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Automodular Signs Letter of Intent
WHITBY - July 30, 2002
Automodular Corporation ("Automodular") announces that it has signed a letter of intent to acquire a sequencing operation in the United States. The acquisition is subject to completion of due diligence investigation satisfactory to Automodular and to Automodular board of director's approval.
If it proceeds, the acquisition price will be approximately $12 million dollars Canadian funds, and will make a material contribution to Automodular sales and net income. Automodular has agreed not to identify the vendor until a definitive agreement is reached.
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