CORUNNA, Ontario, April 30, 2004 (PRIMEZONE) -- Megola, Inc. (OTCBB:MGOA), a leading solution provider in the areas of physical water treatment, wastewater treatment, microbiological control and air purification, announced today that it has hired Phoenix IR Associates Inc. to design and execute an interactive shareholder relations program for the company. The highly experienced staff at Phoenix IR Associates has worked with over one hundred companies in the past five years.
The goal of the program will be to increase the flow of news and information from Megola to its shareholders as well as to make it easier for interested parties to speak to an authorized Megola representative immediately when they have questions concerning the company and its operations.
"We have chosen Phoenix IR Associates to execute our shareholder relations program and help establish us as a company that can be counted on for straight answers about its operations. The team from Phoenix Associates has proven that it truly understands what matters to the shareholders of rapidly growing companies. The track record of their key people is impeccable," states Joel Gardner, Chief Executive Officer of Megola, Inc.
Megola's newly launched shareholder relations campaign will include the establishment of a toll-free number in the coming days that will enable investors to speak to a live representative about past and present developments at the company. The company will also work diligently to make sure that all material news gets out to the investment community as quickly as possible, utilizing major wire and news services. The company will also redesign its corporate website, which is already under construction and should be relaunched in the near future.
Megola intends to announce its revised business model within the next two weeks as well. The company believes that its new business model could significantly boost its potential revenues and profitability.
The matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks are detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission including the company's Annual Report, Quarterly Reports and other periodic filings. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update these forward-looking statements.