Business
PHILLIP MATTEIS RESIGNS AS DIRECTOR
PHILLIP MATTEIS RESIGNS AS DIRECTOR.
About this update from The Kiley Group Inc
[{"type":"text","content":"Irving, Texas, August 19, 2008 (Business Wire) - \n\nAllarae Healthcare, Inc. (OTCPK: ALHI) is announcing the resignation of Phillip Matteis as Director and CEO as of July 3, 2008, and the appointment of Giovanni Belossi as his replacement. In addition to Mr. Matteis' resignation, Steve Cowen, COO of the Company has also resigned. Both gentlemen's resignation was the result of the Company's inability to raise the necessary funds to continue its current business strategy.\n\nA spokesman for the Company stated that every effort would be made to unwind the transactions related to Mr. Matteis in a mutually agreeable manner. The spokesman further stated that the new Board of Directors for the Company is actively pursuing other business opportunities in a different market and that further announcements related to the Company's direction could be expected in the near future.\n\n\"We would like to wish Mr. Matteis and Mr. Cowen the very best in their future business ventures, stated Mr. Belossi. \"We believe that we have separated amicably and that both parties are free to pursue other opportunities as suits their individual needs.\" \n\nMr. Belossi stated that when the new direction for the Company is finalized he will be appointing new Directors to the Board to support that effort. \n\nSafe Harbor Act Disclaimer: Forward-looking statements in this release are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks, and uncertainties and actual results could differ from those discussed. This material is information only and is not an offer or solicitation to buy or sell the securities.\n\nContact:\nAllarae HealthCare, Inc.\nInvestor Relations\n972-868-9101\n\nThe above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not Pink OTC Markets Inc. are solely responsible for the accuracy of such news releases.","length":1988,"tagName":"div"}]