OTCBB-VHGI Announces LOI to Sell Certain Assets for $10 Million Cash/Stock to WNDM; With Stock Dividend to be Distributed to Shareholders in 2010

Thu Nov 5, 2009 8:31am EST
 
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OTCBB-VHGI Announces LOI to Sell Certain Assets for $10 Million Cash/Stock to
WNDM; With Stock Dividend to be Distributed to Shareholders in 2010



LEXINGTON, Ky., Nov. 5 /PRNewswire-FirstCall/ -- Virtual Health Technologies,
Inc. (OTC Bulletin Board: VHGI) announced today that it has entered into a
Letter of Intent to sell all health care related assets to Wound Management
Technologies, Inc. (WNDM). The deal provides for VHGI to be paid $1,000,000 in
cash and debt, 4,000,000 shares of WNDM stock and a royalty agreement for
continued revenues to VHGI.  WNDM closed at $2.00 per share on 11/4/09 and
VHGI closed at $0.27 per share on 11/4/09. VHGI intends to retain the cash and
debt portion of the consideration for working capital purposes, and intends to
distribute the WNDM stock to its shareholders as a dividend in 2010, subject
to completion and effectiveness of a re-sale registration statement to be
filed by WNDM in 2010. 

"VHGI will be selling Medical Office Software (MOS) Inc., Secure eHealth LLC,
and Veriscrip technology  to WNDM. VHGI's technology plus WNDM's core sales
and development network greatly complement each other and equals a win for
both companies," stated Jim Renfro, President of VHGI. "We are confident that
this will benefit our shareholders tremendously, as WNDM plans to leverage the
technology to focus on the U.S. Government Healthcare Stimulus initiative. Our
shareholders will realize a significant dividend in WNDM shares, yet still
maintain their ownership of VHGI stock which is scheduled to receive continued
royalties from the technology revenues. VHGI shareholders will continue to
participate in benefits of the divisions' success, but at an accelerated
timeline due to WNDM's mature technology infrastructure."

The closing of the above transaction will be conditioned among a number of
things, including the execution and delivery of a mutually acceptable
definitive purchase agreement and the approval of the Board of Directors of
both companies as well as the shareholders of VHGI.  Closing is anticipated to
be on or before December 31, 2009.  For VHGI Shareholder relations please call
954-357-0614.

About Virtual Health Technologies, Inc. 
VHGI is a diverse company with assets and interests focusing on opportunities
within the Healthcare Technology Industry and Precious Metals / Energy
Resources Markets. VHGI has recently initiated steps to leverage the company's
operating history and corporate resources within the Gold Mining, Precious
Metals and Energy Resources Markets. Although Gold is selling at 25 year high
prices and Oil & Gas continue to be trading at significant premiums, global
economic events have created significant opportunities within these markets.
VHGI intends to pursue these opportunities through Lease-Purchase
opportunities, Acquisitions and Joint Ventures for the goal of enhanced
shareholder value. 

Virtual Health Technologies, Inc. cautions investors that none of the
information concerning the valuations of mineral deposits or other data
reported above have been verified by outside geologists or other verifiable
sources.

About Wound Management Technologies, Inc.
Wound Management Technologies, Inc. (OTC Bulletin Board: WNDM), with its
corporate headquarters in Fort Worth, Texas, and regional offices in Ft.
Lauderdale, Florida is a rapidly growing provider of specialty medical
products and advanced biotechnology solutions. The Company is leveraging its
existing technology and infrastructure to develop opportunities within the
International Biotechnology and Genetic Engineering fields.  WNDM also
believes it is positioned to develop its technology in Cancer Treatment. For
more information on the Company please visit
www.woundmanagementtechnologies.com or call our shareholder information
department at 859-514-6982.

"Safe Harbor" Statement: Under The Private Securities Litigation Reform Act of
1995: The statements in the press release that relate to the company's
expectations with regard to the future impact on the company's results from
new products in development are "forward-looking statements," within the
meaning of the Private Securities Litigation Reform Act of 1995. Since this
information may contain statements that involve risk and uncertainties and are
subject to change at any time, the company's actual results may differ
materially from expected results. This document may contain forward-looking
statements concerning the Company's operations, current and future performance
and financial condition. These items involve risks and uncertainties such as
product demand, market and customer acceptance, the effect of economic
conditions, competition, pricing, the ability to consummate and integrate
acquisitions, and other risks and uncertainties detailed in the Company's SEC
filings. The Company undertakes no obligation to revise any of these
statements to reflect the future circumstances or the occurrence of
unanticipated events. 

For Further Information:
Shareholder Relations - Communications    859-514-6982

SOURCE  VirtualHealth Technologies, Inc.

Shareholder Relations - Communications of Virtual Health Technologies, Inc.,
+1-859-514-6982

 

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