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Medi-Hut Co., Inc. Offers Further Details Regarding WJL Enterprises, Inc.


Business Editors/Health & Medical Writers

BIOWIRE2K

LAKEWOOD, N.J.--(BW HealthWire)--March 9, 2001

Due to overwhelming inquiries, Medi-Hut Co., Inc. (OTC OTC

See: Over-the-counter.


OTC

See over-the-counter market (OTC).
 BB:MHUT) announces additional key points regarding the intent to acquire WJL WJL West Jordan Library (West Jordan, UT)  Enterprises Inc., which was formally announced on March 5.

Joseph Sanpietro, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  of Medi-Hut explains, "WJL Enterprises Inc., formerly known as Jomar Marketing, closed its fiscal year 2000 with approximately a 4% net profit and an increase in sales from $7.5 million in 1999 to approximately $12 million in 2000. WJL Enterprises Inc. currently has no long or short term debt."

According to according to
prep.
1. As stated or indicated by; on the authority of: according to historians.

2. In keeping with: according to instructions.

3.
 Sanpietro, negotiations are underway and should be completed within the 90 day time frame.

"I am extremely excited about the signing of this letter of intent to acquire WJL Enterprises, Inc.," says Joseph Sanpietro, President and CEO of Medi-Hut Co., Inc. "We believe WJL is one of the finest sales and marketing organizations with a diversified product mix," says Mr. Sanpietro.

"Mr. Wayne Licker, President of WJL, has over 15 years of experience in the pharmaceutical business, and he will be working with Mr. Larry Marasco in combining the name brand pharmaceuticals with our Tru-Choice and Elite brand products," adds Mr. Sanpietro.

"We believe the combination of Medi-Hut and WJL will improve our current sales avenues and expand sales for both our Tru-Choice and Elite brand products and expand our marketing of the Elite Safety Syringe syringe /sy·ringe/ (si-rinj´) (sir´inj) an instrument for injecting liquids into or withdrawing them from any vessel or cavity. ," added Mr. Sanpietro.

Medi-Hut Co., Inc. was founded in 1982 and began trading publicly in February 1998. The company private labels and markets its own "Elite" brand insulin syringes, condoms, alcohol preps and hot and cold packs, etc. as well as its TRU- Choice brand of OTC Drug Products.

Medi-Hut Co., Inc. manufactures its own Elite brand anti-stick safety syringe that incorporates a transparent sleeve, which covers the needle automatically after use.

Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21 E of the Securities Exchange Act of 1934, and as that term defined in 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.

The Company intends that such forward-looking statements forward-looking statement

A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections.
 be subject to the safe harbors 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.
 created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results could differ materially from expected results.
COPYRIGHT 2001 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Mar 9, 2001
Words:411
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