CHICAGO, April 7, 2015 /PRNewswire/ -- Positron
Corporation (OTCBB:POSC), a nuclear medicine healthcare company
("Positron" or the "Company"), today announced the approval of its
reverse stock split of Positron common stock on a 1-for-400
basis. The Company anticipates the split will be effective on
April 8, 2015. At the opening of
trading on that day, Positron's common stock will begin trading on
a 1:400 reverse split-adjusted basis.
"The completion of this reverse stock split is an important step
in Positron's plans as we move forward with a reasonable and easily
identifiable capitalization structure. As interests in
cardiac PET expands, so will the demand for imaging agents and
technology. Positron has infrastructure in place to supplement the
Sr-82 and PET technology market and continues to make progress in
key areas of this business. With a significant reduction of debt
combined with lower operational costs and a more traditional
capitalization structure, we will be able to raise awareness and
visibility to cardiac PET and healthcare investors alike," said
Corey Conn, Positron's Chief
Financial Officer.
As previously disclosed, upon effectiveness of the reverse stock
split, every four hundred (400) shares of issued Positron
Corporation common stock will be automatically converted into one
(1) share of common stock. Positron's symbol will be POSCD
for a period of 20 trading days to signify that the stock split has
occurred.
About Positron: Positron Corporation is a nuclear
medicine healthcare company that specializes in the business of
cardiac PET imaging. Positron is vertically integrating critical
segments of nuclear cardiology to provide an end-to-end solution
for cardiac PET customers. The Company's products and services
include positron emission tomography (PET) molecular imaging
systems, clinical support, radioisotope processing and production
services specifically for cardiac imaging. Positron enables
healthcare providers to more accurately diagnose disease and
improve patient outcomes, while practicing cost effective medicine.
Positron's unique products, market position and approach in
securing the supply chain are substantial advantages, further
accelerating the adoption of cardiac PET and growth of nuclear
cardiology. www.positron.com.
Forward Looking Statements: Statements in this
document contain certain 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, as amended. These
statements are based on many assumptions and estimates and are not
guarantees of future performance. These statements may involve
known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of Positron
Corporation to be materially different from future results,
performance or achievements expressed or implied by such
forward-looking statements. Positron assumes no obligation to
publicly update or revise these forward-looking statements for any
reason, or to update the reasons actual results could differ
materially from those anticipated in these forward-looking
statements, even if new information becomes available in the
future. Our actual results may differ materially from the
results anticipated in these forward-looking statements due to a
variety of factors, including, without limitation those set forth
as "Risk Factors" in our filings with the Securities and Exchange
Commission.
CONTACT: Positron Corporation, 317.576.0183
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SOURCE Positron Corporation