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Critical Care Announces Agreement in Principal with Armac Investments.


DEL MAR Del Mar is the name of several places in the United States of America:
  • Del Mar, California
  • Del Mar, Texas
  • Del Mar High School, located in San Jose, California
  • Del Mar Racetrack, located in Del Mar, California
, Calif. -- Critical Care, Inc. (Pink Sheets:CTCX) today announced an agreement in principal with Armac Investments of Edmonton, Alberta. Armac has agreed to place certain real estate assets valued at CAD$ 7.9 million into Critical Care in exchange for a convertible debenture Convertible Debenture

Any type of debenture that can be converted into some other security.

Notes:
For example, a convertible bond can be converted into stock.
. These properties will be utilized for Critical Care's proposed activities in British Columbia to provide health care through its recently acquired Body Mass Solutions division.

In addition to obesity and diabetes testing and treatment, Critical Care will also be using part of these assets to make available "wellness vacations" for patients afflicted af·flict  
tr.v. af·flict·ed, af·flict·ing, af·flicts
To inflict grievous physical or mental suffering on.



[Middle English afflighten, from afflight,
 with kidney disease Kidney Disease Definition

Kidney disease is a general term for any damage that reduces the functioning of the kidney. Kidney disease is also called renal disease.
 as well as facilities for weight control issues.

Forward-Looking Statements

The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995 provides a safe harbor Safe Harbor

1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.

2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive.
 for forward-looking information made on the company's behalf. All statements, other than statements of historical facts which address the company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies, can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the factors previously listed, as well as other factors beyond the control of the company, which include the ability of the company to implement its business plans and consummate the proposed acquisition, actual results may differ materially from the expectations expressed in the forward-looking statements.

www.criticalcareworld.com
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Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Dec 7, 2006
Words:238
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