ER Urgent Care Holdings, Inc.'s Board of Directors Authorizes Its Officers and Directors to Exchange Over 1,000,000,000 Shares o
29 August 2008 - 12:17AM
Marketwired
ER Urgent Care Holdings, Inc. (PINKSHEETS: ERUC) is pleased to
announce that the members of Company's Board of Directors, its
officers, employees and other affiliated and related persons have
pledged to exchange over 1,000,000,000 shares of common stock for
shares of Series B Preferred as part of the previously announced
Preferred for Common Stock exchange program. ER Urgent Care
Holdings, Inc. is offering stockholders the right to exchange the
Company's Common Stock for shares of Series B Preferred Stock, on
the basis of one share of the Series B, valued at $1.00 per share
for each 1,000 shares of the Company's Common Stock tendered. The
shareholders will also receive warrants to purchase one share of
the Company's Common Stock for each share of Common Stock tendered.
A shareholder must tender at least 1,000,000 shares of Common
Stock in order to take part in this Exchange Offer and the deadline
for delivering the certificates to the Company's transfer agent,
Transfer Online, is the close of business on September 30, 2008. To
view the full terms of the Preferred Share Exchange offer, please
visit the following link:
http://erucc.net/pdfs/Offer_to_Exchange_Common_Stock.pdf.
"I am proud that all members of the Board of Directors, as well
as officers, employees and affiliated and related persons, have
pledged to exchange such a large part of their common shares
holdings in order to participate in the current share exchange
program. Management believes that this Share Exchange Program is in
the best interests of ERUC and its shareholders as it will reduce
the number of shares of Common Stock outstanding, reduce the float,
i.e., shares traded on the open market and, with this commitment,
over twenty percent (20%) of the total outstanding shares of common
will be retired," stated Mark Solomon, ERUC President. Mr. Solomon
suggests that shareholders should also visit the Company's current
Pink Sheets disclosure for information about the Company.
About ER Urgent Care Holdings, Inc.:
ER Urgent Care Holdings, Inc. operates ER Urgent Care Centers in
South Florida. The "true, bona-fide, Urgent Care Center" is a
one-stop shop where patients can receive premier health care and
after-hours care at a fraction of the cost of emergency room
visits. With the "Urgent Care Center" model emergency rooms will no
longer lose money on ER patients with minor injuries and illnesses
and the HMOs will no longer have to pay exorbitant claims for
non-admitted patients. ER Urgent Care Centers create a win-win
situation for everyone, filling the financial and service gap
between primary care physicians (PCPs) and hospital emergency
rooms.
Statements contained in this news release, other than those
identifying historical facts, constitute "forward-looking
statements" within the meaning of Section 21E of the Securities
Exchange Act of 1934 and the Safe Harbor provisions as contained in
the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements relating to the Company's future
expectations, including but not limited to revenues and earnings,
technology efficacy, strategies and plans, are subject to safe
harbors protection. Actual Company results and performance may be
materially different from any future results, performance,
strategies, plans, or achievements that may be expressed or implied
by any such forward-looking statements. The Company disclaims any
obligation to update or revise any forward-looking statements.
Contact: ER Urgent Care Holdings, Inc. http://www.erucc.net/ or
Call Investor Relations + 1-866-843-2775
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