WellTek/MedX Group Completes Major Reorganization
11 Noviembre 2009 - 7:30AM
PR Newswire (US)
Initiates Trading on the Over-The-Counter Bulletin Board Under
Ticker Symbol "WTKN" ORLANDO, Fla., Nov. 11 /PRNewswire-FirstCall/
-- WellTek/MedX Group, health, fitness and wellness companies,
today announced that it has completed a major corporate
reorganization to facilitate becoming an SEC reporting company. On
November 11, 2009, MedX Systems, Inc. merged into a wholly owned
subsidiary of an SEC reporting public company, previously named
Pharmacity Corporation, and subsequently changed its name to
WellTek Incorporated. As a result of the merger, there are
85,783,828 shares of common stock outstanding, including
approximately 70,000,000 shares issued in the merger. In addition,
there are outstanding options and warrants exercisable into an
aggregate of 8,660,411 shares of WellTek Incorporated. "As a
consequence of this transaction, we now have a viable, trading
market for our common stock. Moreover, management is now free to
focus exclusively on executing our growth strategies and building
long term value for our trusted shareholders," stated Randy
Lubinsky, Chairman and CEO. For more detailed information, please
refer to the Form 8-K to be filed with the U.S. Securities and
Exchange Commission. To view, please visit http://www.sec.gov/.
About WellTek Incorporated WellTek is a global health, fitness and
wellness company that provides solutions to help address some of
the world's most pressing and costly health challenges--obesity and
chronic neck and back pain. The Company's subsidiary, MedX Limited,
manufactures, markets and distributes the most advanced medical
exercise equipment to the medical and fitness markets. Through its
wholly owned subsidiary Pure HealthyBack, Inc., WellTek is
redefining healthcare delivery by providing health plans,
self-insured employer groups, and consumers with a viable
non-surgical, lower cost treatment for patients who are seeking
lasting relief from chronic neck and back pain. The Company also
owns and operates lime Fitness, Inc., a high-end fitness and
exercise studio specializing in lifestyle fitness coaching designed
to facilitate life, image and mind enrichment. For more information
on the Company, please visit http://www.welltekinc.com/. Certain
statements contained in this press release, which are not based on
historical facts, are forward-looking statements as the term is
defined in the Private Securities Litigation Reform Act of 1995,
and are subject to substantial uncertainties and risks in part
detailed in the respective Company's Securities and Exchange
Commission filings, that may cause actual results to materially
differ from projections. Although the Company believes that its
expectations are reasonable assumptions within the bounds of its
knowledge of its businesses, expectations, representations and
operations, there can be no assurance that actual results will not
differ materially from their expectations. Important factors
currently known to management that could cause actual results to
differ materially from those in forward-looking statements include
the Company's ability to execute properly its business model, to
raise additional capital to implement its continuing business
model, the ability to attract and retain personnel - including
highly qualified executives, management and operational personnel,
ability to negotiate favorable future debt facilities and capital
raises, and the inherent risk associated with a diversified
business to achieve and maintain positive cash flow and net
profitability. In light of these risks and uncertainties, there can
be no assurance that the forward-looking information contained in
this press release will, in fact, occur. DATASOURCE: WellTek
Incorporated CONTACT: Elite Financial Communications Group, LLC,
Dodi B. Handy, President & CEO (Twitter: dodihandy), or Kathy
Addison, VP of Elite Media Group (Twitter: kathyaddison),
+1-407-585-1080, , both for WellTek Incorporated Web Site:
http://www.welltekinc.com/
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