MarketwireHealthnostics, Inc. (PINKSHEETS: HNSS) has been authorized to present its shareholders with an offer to purchase a minimum of 51 percent of the Company's outstanding shares for $.01 per share cash.
The Healthnostics Board of Directors had approved this transaction and agreed to recommend it to Healthnostics stockholders. That recommendation is now withdrawn. The Board believes the offer to be inadequate. However, the Board has agreed to present the offer to its shareholders, and an outline of the Term Sheet is included herein. The Comprehensive Term Sheet will be posted on the Company website at www.healthnostics.com within 24 hours and will include the following:
"The acquiring company is not affiliated with Healthnostics, Inc., its officers or directors or their agents. The acquiring company is obligated to purchase these shares if a minimum of 51 percent of the outstanding shares are tendered, but may, at its discretion, purchase these shares if less than 51 percent of the outstanding shares are tendered."
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