EXHIBIT 99.1
EDG Capital, Inc. Announces Reorganization of its Board of Directors
NEW YORK, January 17, 2001 - EDG Capital, Inc., a developer of nuclear
pharmaceuticals for therapeutic use in the treatment of cancer, today announced
that three of its directors, Robert Keating, Gail Shields and Maurice Kolodin,
have resigned from its the board of directors. Stanley Barshay has been elected
to the board by the remaining directors.
Jack Schwartzberg, Chief Executive Officer, President and Chairman of EDG
Capital, stated: "Bob Keating, Maurice Kolodin and Gail Shields have served us
well during our transition from a private to a public company following the
acquisition of Isotope Solutions by EDG Capital, and we wish them well in their
future endeavors."
"For EDG Capital to continue to grow its pharmaceutical research and development
program, we must bring directors with substantial industry experience and
contacts to the board," said Mr. Schwartzberg.
"Stanley Barshay has over 30 years experience in the industry," he added. "Mr.
Barshay retired in 1997 from American Home Products Corporation, where he guided
the Whitehall-Robins Healthcare unit to $1.5 billion in sales and profits of
over $300 million in 1997. We believe that Stanley's experience, knowledge and
contacts will prove invaluable to us as we pursue our business plan. In the
coming months we will be looking for additional men and women of Stanley's
caliber to join our board."
About EDG Capital, Inc. Through its wholly-owned subsidiary, Isotope Solutions,
Inc., EDG Capital is engaged in the research, development and testing of nuclear
pharmaceuticals for therapeutic use in the treatment of the most lethal forms of
cancer. Isotope Solutions, Inc.'s research is conducted by internationally
renowned clinicians that have entered into management contracts with Isotope
Solutions, Inc.
Legal Disclaimers: This press release may contain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. Investors are cautioned that
forward-looking statements are inherently uncertain. Actual performance and
results of operations may differ materially from those projected or suggested in
the forward-looking statements. The forward-looking statements contained herein
represent EDG Capital, Inc.'s judgment as of the date of this release, and EDG
Capital, Inc. cautions investors not to place undue reliance on such statements.
CONTACT: EDG Capital, Inc., New York
Shragie David Aranoff
Vice President
516/222-5154
or
Patricia Amerman
Rubenstein Associates, Inc.
212/843-8049
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