Helius Medical Technologies, Inc. Announces Voluntary De-Listing from Toronto Stock Exchange
August 25 2021 - 7:00AM
Helius Medical Technologies, Inc. (Nasdaq:HSDT) (TSX:HSM) (“Helius”
or the “Company”), a neurotech company focused on neurological
wellness, today announced that it has provided written notice to
the Toronto Stock Exchange (the “TSX”) regarding the voluntary
delisting of its Class A common stock from the TSX.
The Company believes that the trading volume of
its shares on the TSX no longer justifies the expense and
administrative efforts associated with maintaining this listing,
especially given Helius’ listing on The Nasdaq Capital Market
(“Nasdaq”). The Company’s listing on Nasdaq provides its
stockholders with good liquidity, and the savings in exchange fees,
legal fees and managerial time and effort to maintain a dual
listing can be redirected into further advancing the business of
the Company. Helius anticipates that its Class A common stock will
be delisted from the TSX at the close of trading on or about
September 9, 2021.
Pursuant to Section 720(b)(i) of the TSX Company
Manual, shareholder approval is not required with regards to the
voluntary delisting as an alternative market for the shares will
exist on Nasdaq.
Stockholders holding shares in Canadian
brokerage accounts should contact their brokers to confirm how to
trade Helius’ shares on the Nasdaq.
About Helius Medical Technologies,
Inc.
Helius is a neurotech company focused on
neurological wellness. The Company’s purpose is to develop, license
and acquire unique and non-invasive platform including the Portable
Neuromodulation Stimulator (PoNSTM). For more information, visit
www.heliusmedical.com.
About the
PoNSTM Device and PoNS
TreatmentTM
The Portable Neuromodulation Stimulator (PoNSTM)
is an innovative non-surgical device, inclusive of a controller and
mouthpiece, which delivers electrical stimulation to the surface of
the tongue to provide treatment of gait deficit. The PoNS device is
indicated for use in the United States as a short term treatment of
gait deficit due to mild-to-moderate symptoms from multiple
sclerosis (“MS”) and is to be used as an adjunct to a supervised
therapeutic exercise program in patients 22 years of age and over
by prescription only. It is authorized for sale in Canada as a
class II, non-implantable, medical device intended as a short term
treatment (14 weeks) of gait deficit due to mild and moderate
symptoms from MS, and chronic balance deficit due to
mild-to-moderate traumatic brain injury (“mmTBI”) and is to be used
in conjunction with physical therapy. The PoNSTM is an
investigational medical device in Australia (“AUS”) and is
currently under premarket review by the AUS Therapeutic Goods
Administration. Investor Relations
Contact:
Westwicke on behalf of Helius Medical Technologies, Inc.Jack
Powell, Vice Presidentinvestorrelations@heliusmedical.com
Cautionary Note Regarding Forward Looking
Statements:
Certain statements in this news release are not
based on historical facts and constitute forward-looking statements
or forward-looking information within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995 and Canadian
securities laws. All statements other than statements of historical
fact included in this news release are forward-looking statements
that involve risks and uncertainties. Forward-looking statements
are often identified by terms such as “believe,” “continue,”
“will,” “goal,” “aim to,” “look forward” and similar expressions.
Such forward-looking statements include, among others, statements
regarding the planned voluntary delisting of Helius’ Class A common
stock from the TSX, the accessibility of and ability to trade the
Company’s Class A common stock on the Nasdaq, and the anticipated
continued listing of the Company’s common stock on the Nasdaq.
There can be no assurance that such statements
will prove to be accurate and actual results and future events
could differ materially from those expressed or implied by such
statements. Important factors that could cause actual results to
differ materially from the Company’s expectations, including risks
detailed from time to time in the “Risk Factors” section of the
Company’s Annual Report on Form 10-K for the year ended December
31, 2020, its Quarterly Report on Form 10-Q for the quarter ended
June 30, 2021 and its other filings with the United States
Securities and Exchange Commission and the Canadian securities
regulators, which can be obtained from either at www.sec.gov or
www.sedar.com.
The reader is cautioned not to place undue
reliance on any forward-looking statement. The forward-looking
statements contained in this news release are made as of the date
of this news release and the Company assumes no obligation to
update any forward-looking statement or to update the reasons why
actual results could differ from such statements except to the
extent required by law.
The Toronto Stock Exchange has not reviewed and
does not accept responsibility for the adequacy or accuracy of the
content of this news release.
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