Amarantus Completes Capital Restructuring in Preparation for National Exchange Listing
June 09 2015 - 4:05PM
Amarantus BioScience Holdings, Inc. (OTCQB:AMBS), a biotechnology
company focused on developing therapeutic and diagnostic products
for neurological disorders and orphan indications, announced it has
completed its capital restructuring in preparation for a national
exchange listing via a 1-for-150 reverse split of its common stock
effective at the close of trading on Tuesday, June 9, 2015.
Amarantus' common stock will trade on a split-adjusted basis under
a new CUSIP number and temporary ticker symbol "AMBSD"
beginning on Wednesday, June 10, 2015. After 20 days, the common
stock will commence trading under the ticker symbol "AMBS."
"The streamlining of our capital structure will make Amarantus a
much more attractive investment opportunity to the broader capital
markets," said Gerald E. Commissiong, President & CEO of
Amarantus. "As the Company begins its march towards a national
exchange listing, we have a number of exciting milestones expected
across each of our programs that we believe will drive value and
raise the level of awareness of Amarantus within the scientific,
medical, business and investment communities."
As a result of the stock split, every 150 shares of issued and
outstanding common stock will be converted into 1 share of common
stock. The Company's common stock will temporarily trade on the OTC
QB under the symbol "AMBSD," for a period of 20 trading days after
which time the symbol will revert back to AMBS. The temporary "D"
at the end of the Company's stock symbol signifies that the reverse
stock split has occurred. Following the reverse split, there will
be approximately 7 million common shares outstanding.
All fractional shares created by the reverse stock split will be
rounded to the nearest whole share. If the fraction created is one
half or less, it will be rounded down to the nearest whole share.
If the fraction is more than one half, it will be rounded up to the
nearest whole share. Each shareholder will get at least one
share.
The Company's transfer agent, VStock Transfer, LLC, will adjust
its records to reflect each shareholder's post-split position.
Share adjustments to physical stock certificates can be made upon
surrender of the certificate to the transfer agent. Please contact
VStock Transfer, LLC for further information at (212) 828-8436 or
toll-free at (855)-9VSTOCK or by email at
info@vstocktransfer.com.
About Amarantus BioScience Holdings, Inc.
Amarantus BioScience Holdings (AMBS) is a biotechnology company
developing treatments and diagnostics for diseases in the areas of
neurology, psychiatry, ophthalmology and regenerative medicine.
AMBS' Therapeutics division has development rights to eltoprazine,
a Phase 2b ready small molecule indicated for Parkinson's disease
levodopa-induced dyskinesia, adult ADHD and Alzheimer's aggression,
and owns the intellectual property rights to a therapeutic protein
known as mesencephalic-astrocyte-derived neurotrophic factor (MANF)
and is developing MANF-based products as treatments for brain and
ophthalmic disorders. AMBS' Diagnostics division owns the rights to
MSPrecise®, a proprietary next-generation DNA sequencing (NGS)
assay for the identification of patients with relapsing-remitting
multiple sclerosis (RRMS) at first clinical presentation, has an
exclusive worldwide license to the Lymphocyte Proliferation test
(LymPro Test®) for Alzheimer's disease, which was developed by
Prof. Thomas Arendt, Ph.D., from the University of Leipzig, and
owns intellectual property for the diagnosis of Parkinson's disease
(NuroPro). AMBS also owns the discovery of neurotrophic factors
(PhenoGuard™) that led to MANF's discovery.
For further information please visit www.Amarantus.com, or
connect with the Company on Facebook, LinkedIn, Twitter and
Google+.
Forward-Looking Statements
Certain statements, other than purely historical information,
including estimates, projections, statements relating to our
business plans, objectives, and expected operating results, and the
assumptions upon which those statements are based, are
forward-looking statements. These forward-looking statements
generally are identified by the words "believes," "project,"
"expects," "anticipates," "estimates," "intends," "strategy,"
"plan," "may," "will," "would," "will be," "will continue," "will
likely result," and similar expressions. Forward-looking statements
are based on current expectations and assumptions that are subject
to risks and uncertainties which may cause actual results to differ
materially from the forward-looking statements. Our ability to
predict results or the actual effect of future plans or strategies
is inherently uncertain. Factors which could have a material
adverse effect on our operations and future prospects on a
consolidated basis include, but are not limited to: changes in
economic conditions, legislative/regulatory changes, availability
of capital, interest rates, competition, and generally accepted
accounting principles. These risks and uncertainties should also be
considered in evaluating forward-looking statements and undue
reliance should not be placed on such statements.
CONTACT: Investor and Media Contact:
Jenene Thomas
Jenene Thomas Communications, LLC
Investor Relations and Corporate Communications Advisor
T: (US) 908.938.1475
E: jenene@jenenethomascommunications.com
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