Miraculins Announces Proposed Ten to One Share Consolidation
13 Janvier 2014 - 12:30PM
Marketwired
Miraculins Announces Proposed Ten to One Share Consolidation
WINNIPEG, MANITOBA--(Marketwired - Jan 13, 2014) - Miraculins
Inc. (TSX-VENTURE:MOM), ("Miraculins" or the "Company") a medical
diagnostic company focused on acquiring, developing and
commercializing diagnostic and risk assessment technologies for
unmet clinical needs, announces that its Board of Directors have
approved a consolidation of the Company's common shares ("Common
Shares") on the basis of ten pre-consolidation Common Shares for
each one post-consolidation Common Share, subject to the approval
of the TSX Venture Exchange.
A special resolution was passed at the Company's Annual and
Special Meeting held on May 31, 2013, to give the Board of
Directors of the Company the discretion to approve a consolidation
of the Company's Common Shares on the basis of a range of four
pre-consolidation Common Shares for each one post-consolidation
Common Share to fifteen pre-consolidation Common Shares for each
one post-consolidation Common Share. As at January 13, 2014, the
Company had 123,652,043 Common Shares issued and outstanding.
Following the consolidation, it is expected that the Company will
have approximately 12,365,204 Common Shares issued and outstanding.
The numbers of Common Shares reserved for issuance under the
Company's Stock Option Plan and the number of Common Shares that
may be purchased upon exercise of warrants will be reduced
proportionately. No fractional shares will be issued, but instead
will be rounded to the nearest whole common share. Once TSX Venture
Exchange approval is obtained, the Company will issue a further
news release and shareholders will receive a letter of transmittal
from CST Trust Company, the Company's exchange agent. The Company's
name and trading symbol will not change as a result of the
consolidation.
Further details with respect to the consolidation are contained
in the Company's Management Proxy Circular dated April 26, 2013, a
copy of which is available on SEDAR at www.sedar.com.
About Miraculins Inc.
Miraculins is a medical diagnostic company focused on acquiring,
developing and commercializing non-invasive technologies for unmet
clinical needs. A significant number of promising diagnostic
opportunities remain un-commercialized because of the sizable gap
between the discovery stage, when research institutions are
typically involved, and the commercialization stage, when the
larger commercial enterprises become interested. Miraculins has
direct experience in bridging this gap. The Company's PreVu® POC
Test is a revolutionary new coronary artery disease risk assessment
technology that measures cholesterol levels in a patient's skin
non-invasively, painlessly and without the need for fasting. The
Company's Scout DS® system is the first non-invasive diabetes
testing system designed to provide a highly sensitive and
convenient method for measuring diabetes related biomarkers in the
skin, the accumulation of which are accelerated by abnormal blood
sugar levels and oxidative stress. Unlike current testing methods,
a Scout DS® test requires no blood draw, no fasting, and no waiting
for a lab result. The product has been used and validated in
thousands of patients around the world. The Company's preeclampsia
program is partnered with Alere Inc., one of the world's largest
diagnostic companies. For more information visit
www.miraculins.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Caution Regarding Forward-Looking Information
Certain statements contained in this press release
constitute forward-looking information within the meaning of
applicable Canadian provincial securities legislation
(collectively, "forward-looking statements"). These forward-looking
statements include statements regarding the receipt of TSX Venture
Exchange approval for the consolidation. These forward-looking
statements relate to, among other things, our objectives, goals,
targets, strategies, intentions, plans, beliefs, estimates and
outlook, including, without limitation, our anticipated future
operating results, and can, in some cases, be identified by the use
of words such as "believe," "anticipate," "expect," "intend,"
"plan," "will," "may" and other similar expressions. In addition,
any statements that refer to expectations, projections or other
characterizations of future events or circumstances are
forward-looking statements.
These statements reflect management's current beliefs and
are based on information currently available to management. Certain
material factors or assumptions are applied in making
forward-looking statements, and actual results may differ
materially from those expressed or implied in such statements.
Important factors that could cause actual results to differ
materially from these expectations include, among other things:
Miraculins' early stage of development, lack of product revenues
and history of operating losses, uncertainties related to clinical
trials and product development, rapid technological change,
uncertainties related to forecasts, competition, potential product
liability, additional financing requirements and access to capital,
unproven markets, supply of raw materials, income tax matters,
management of growth, partnerships for development and
commercialization of technology, effects of insurers' willingness
to pay for products, system failures, dependence on key personnel,
foreign currency risk, risks related to regulatory matters and
risks related to intellectual property and other risks detailed
from time to time in Miraculins' filings with Canadian securities
regulatory authorities, as well as Miraculins' ability to
anticipate and manage the risks associated with the foregoing.
Additional information about these factors and about the material
factors or assumptions underlying such forward-looking statements
may be found in the body of this news release. Miraculins cautions
that the foregoing list of important factors that may affect future
results is not exhaustive. When relying on Miraculins'
forward-looking statements to make decisions with respect to
Miraculins investors and others should carefully consider the
foregoing factors and other uncertainties and potential
events.
These risks and uncertainties should be considered carefully
and prospective investors should not place undue reliance on the
forward-looking statements. Although the forward-looking statements
contained in this press release are based upon what management
believes to be reasonable assumptions, Miraculins cannot provide
assurance that actual results will be consistent with these
forward-looking statements. Miraculins undertakes no obligation to
update or revise any forward-looking statement.
PreVu® and Scout DS® are
registered trademarks of Miraculins Inc. All Rights Reserved.
2014.
Miraculins Inc.Christopher J. MoreauPresident &
CEO204-477-7599204-453-1546info@miraculins.comwww.miraculins.com
Miraculins Inc. (TSXV:MOM)
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