SANTA MONICA, Calif. Feb. 28, 2011 Derycz Scientific, Inc. March 31, 2011 Paris Europe
Peter Derycz Europe
$13 million December 31, 2010
Under the terms of the proposed transaction, Derycz stock issued to the owners of TAAG will be subject to a three-year lock-up period. The owners may receive additional payments in cash or Derycz stock, at Derycz’s discretion, over the next five years based on net income milestones. TAAG founders Mario Vendemiati and Patrice Chambin will enter into employment agreements with TAAG and will continue to manage TAAG’s operations.
Conference Call Information
Tuesday, March 1 11:00 a.m. Eastern time 8:00 a.m. Pacific time www.deryczscientific.com
A webcast replay will be available on the Derycz Scientific website for 90 days. A telephone replay will be available for 48 hours following the conclusion of the call by dialing (800) 642-1687 from the U.S. or (706) 645-9291 from outside the U.S., and entering reservation code 48502461.
About Derycz Scientific®
Certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; acceptance of the Company’s products in the market; the Company’s success in obtaining new customers; the Company’s success in technology and product development; the Company’s ability to execute its business model and strategic plans; and all the risks and related information described from time to time in the Company’s filings with the Securities and Exchange Commission ("SEC"), including the financial statements and related information contained in the Company’s Annual Report on Form 10-K. The Company assumes no obligation to update the cautionary information in this release.
SOURCE Derycz Scientific, Inc.