PHOENIX, June 12,
2023 /PRNewswire/ -- Creative Medical Technology
Holdings, Inc. ("Creative Medical Technology" or the "Company")
(NASDAQ: CELZ), a biotechnology company focused on a
regenerative approach to immunotherapy, endocrinology, urology,
gynecology, and orthopedics, today announced that its Board of
Directors has approved a share repurchase program. The program
authorizes the Company to repurchase up to $2 million of its shares of common stock, in the
open market or through privately negotiated transactions, in
accordance with applicable securities laws and other restrictions.
The manner, timing and amount of any purchase will be based on an
evaluation of market conditions, the Company's stock price and
other factors. The program has no termination date, may be
suspended or discontinued at any time, and does not obligate the
Company to acquire any particular number of shares of common
stock.
"Recent market uncertainty has created opportunities under which
we believe the repurchase of shares of our common stock is an
attractive use of our capital, particularly given our strong
balance sheet," said Timothy
Warbington, President and CEO of the Company. "We feel that
the company's shares are significantly undervalued and establishing
a share repurchase program at this time will maximize shareholder
value."
About Creative Medical Technology Holdings
Creative
Medical Technology Holdings, Inc. is a biotechnology company
dedicated to the advancement of identifying and translating novel
biological therapeutics in the fields of immunotherapy,
endocrinology, urology, gynecology, and orthopedics and is traded
on NASDAQ under the ticker symbol CELZ. For further information
about the Company, please
visit www.creativemedicaltechnology.com.
Forward Looking Statements
This news release may
contain forward-looking statements, which may include, but are not
limited to, comments regarding the timing and content of upcoming
clinical trials and laboratory results, marketing efforts, funding,
etc. Forward-looking statements address future events and
conditions and, therefore, involve inherent risks and
uncertainties. Actual results may differ materially from those
currently anticipated in such statements. See the periodic and
other reports filed by Creative Medical Technology Holdings, Inc.
with the Securities and Exchange Commission and available on the
Commission's website at www.sec.gov.
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SOURCE Creative Medical Technology Holdings, Inc.