Healthwatchsystems acquires marketing rights to Fertilite-OV fertility monitor.

2004 JUN 3 - (NewsRx.com & NewsRx.net) -- Pheromone Sciences Corp. (PHS) announced the signing of a definitive agreement pursuant to which Healthwatchsystems, Inc., will take over the worldwide marketing of Pheromone's proprietary technology, the Fertilite-OV fertility monitor and accompanying technology.

As part of the transaction, Healthwatchsystems will acquire the patents related to this technology. Pheromone will receive $500,000, payable on closing, and a graduated royalty on world wide sales of the fertility monitor and any related products stemming from this technology until the earlier of the expiration of the patents or 2014.

The transaction is subject to the approval of the TSX Venture Exchange and approval of Pheromone shareholders, which approval will be sought at Pheromone's annual and special meeting of shareholders to be held on August 25, 2004.

Closing is anticipated to occur forthwith after the requisite approvals have been obtained.

Additionally, Pheromone has granted to Healthwatchsystems a license, until closing, to make and sell the fertility monitor in North America for a non-refundable fee of $100,000, which will be credited toward the purchase price on closing.

Pheromone will also receive a graduated royalty on sales in North America during the term of the ...