Mr. Osvaldo Iadarola reports

Audiotech Healthcare has acquired the operating assets of Rocky Mountain Audiology and Hearing Aid Clinics from 814696 Alberta Ltd. Rocky Mountain currently owns and operates three hearing care clinics in Alberta, including a full-service clinic in southeast Calgary, as well as associated satellite clinics in Canmore and High River. The purchase includes all audiology equipment, inventory, office furnishings, existing contracts, patient lists and intellectual property.

In conjunction with the acquisition, Audiotech has entered into a management and employment services contract with Lisa Bonneau, MS, audiology. Ms. Bonneau has extensive experience in the management and operation of hearing care clinics and has been instrumental in the expansion of Rocky Mountain since its inception.

The acquisition of Rocky Mountain's clinic assets will complement the company's existing Calgary operations and will make Audiotech's subsidiary, Canadian Hearing Care, one of the largest providers of audiology care in the Calgary area. All three Rocky Mountain clinics have achieved significant growth in their patient bases over the past year as a result of their expanding physician referral network. The company is confident that this growth trend will continue and that the assets of Rocky Mountain will contribute positively to the organic growth of its Canadian operations during the next several years.