Gemoscan Announces Revision to Shares for Service Submissions
May 21 2013 - 12:34PM
Gemoscan Canada, Inc. ("Gemoscan" or the "Company") – (TSX-V:GES),
(MUN:1GE) announces that, subject to regulatory approval, it will
be extending two, previously announced, shares for service
submissions.
Submission One
Further to the Company's press releases of September 12, 2012,
February 6, 2013 and April 4, 2013, it is seeking approval from the
TSX Venture Exchange ("TSXV") to extend an existing shares for
service application ("Submission One"). The TSXV granted acceptance
of Submission One on September 20, 2012, an extension to Submission
One on February 14, 2013 and a further revision to Submission One
on April 11, 2013. Under the current terms of Submission One the
Company pays a consulting fee to a firm (the "First Consultant") in
exchange for the provision of certain strategic advisory services
of Cdn.$7,500 per month, all of which is satisfied through the
issuance of Class A shares ("Shares") in the Company. The
Company will, subject to regulatory approval, extend Submission One
by an additional one month period, to the end of May 2013. The
number of Shares to be issued to the First Consultant will be
determined by using the closing price of the Shares on the TSXV on
the first trading day of June 2013.
The revision to Submission One is subject to approval by the
TSXV and to compliance with all applicable regulatory
requirements.
Submission Two
Further to the Company's press releases of September 12, 2012
and February 22, 2013, it is also seeking approval from the TSXV to
extend a second existing shares for service application
("Submission Two"). The TSXV granted acceptance of Submission
Two on September 20, 2012 and an extension to Submission Two on
March 4, 2013. Under the current terms of Submission Two the
Company pays a consulting fee to a firm (the "Second Consultant")
in exchange for the provision of certain strategic advisory
services of Cdn.$17,000 per month, of which Cdn.$7,000 per month is
satisfied through the issuance of Shares in the Company. The
Company will, subject to regulatory approval, extend Submission Two
by an additional one month period, to the end of May 2013. The
number of Shares to be issued to the Second Consultant will be
determined by using the closing price of the Shares on the TSXV on
the first trading day of June 2013.
The revision to Submission Two is subject to approval by the
TSXV and to compliance with all applicable regulatory
requirements.
ABOUT GEMOSCAN CANADA, INC.
Gemoscan is an industry leader in food intolerance management
and maintains a first-to-market position with Canada wide
distribution through select retail partners. Founded in 2003, using
its proprietary patented technology; Gemoscan develops, owns and
markets comprehensive food sensitivity and dietary management
solutions for consumers, including the HEMOCODETM Food Intolerance
System, a personalized naturopathic nutritional program that
promotes well-being. Gemoscan is the first and only provider to
commercialize a food intolerance management solution directly to
consumers in partnership with retailers, and today offers the most
comprehensive services available.
Gemoscan Canada, Inc. trades its shares on the Toronto Venture
Exchange (TSX-V) under the symbol GES and is quoted on the Munich,
Frankfurt and Stuttgart Stock Exchanges under the symbol 1GE.
Forward-Looking Information
This news release contains certain "forward-looking
information". All statements, other than statements of historical
fact that address activities, events or developments that Gemoscan
believes, expects or anticipates will or may occur in the future.
These forward-looking statements reflect the current expectations
or beliefs of Gemoscan based on information currently available to
Gemoscan. Forward-looking statements are subject to a number of
significant risks and uncertainties and other factors that may
cause the actual results of Gemoscan to differ materially from
those discussed in the forward-looking statements, and even if such
actual results are realized or substantially realized, there can be
no assurance that they will have the expected consequences to, or
effects on Gemoscan. Any forward-looking statement speaks only as
of the date on which it is made and, except as may be required by
applicable securities laws, Gemoscan disclaims any intent or
obligation to update any forward-looking statement, whether as a
result of new information, future events or results or otherwise.
Although Gemoscan believes that the assumptions inherent in the
forward-looking statements are reasonable, forward-looking
statements are not guarantees of future performance and accordingly
undue reliance should not be put on such statements due to the
inherent uncertainty therein.
Neither 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.
CONTACT: FOR ADDITIONAL INFORMATION CONTACT:
Gemoscan Canada, Inc.
Brian Kalish
Director, President and CEO
(416) 650-1200
Email: bkalish@hemocode.com
Company website: www.gemoscan.com