MONTREAL, April 20, 2005 (PRIMEZONE) -- Bio-Tracking Security, Inc. (Pink Sheets:BTSI) announced today that the company has signed a letter of understanding with Nord Oil, which outlines the path and milestones to acquire one or several of Nord Oil's Samara properties.
"The transaction is now starting to take shape. The letter of understanding takes us one step further to actually acquiring one or several oil properties from Nord Oil," said Jean-Francois Amyot, President of Bio-Tracking Security, Inc. "Dr. Matossian was able to outline and obtain a formal commitment from Nord Oil to begin negotiations for the acquisitions of their Oil and Gas properties in the Samara Region," further added Mr. Amyot,
Management believes that it should be in a position to enter into a Letter of Intent to acquire one or several properties by or before May 1, 2005.
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A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.