Medifocus Announces Cease Trade Order
August 05 2011 - 3:49PM
Marketwired
Medifocus Inc. (Medifocus or the Company) (TSX VENTURE: MFS)(OTCQX:
MDFZF) announces that as a result of the Company not filing its
annual financial statements for the year ended March 31, 2011 and
related annual filings by the filing deadline of July 29, 2011, the
Ontario Securities Commission, as principal regulator, issued a
temporary cease trade order on August 4, 2011 prohibiting all
trading in the securities of the Company, whether direct or
indirect, for a period of 15 days. As a result, trading in the
Company's common shares has been suspended by the TSX Venture
Exchange.
Medifocus is working with its auditors to complete the audit of
its annual financial statements as soon as possible and anticipates
that it will be in a position to file its annual financial
statements for the year ended March 31, 2011 and related annual
filings on or before August 19, 2011. The Company expects the cease
trade order to be revoked shortly thereafter.
About Medifocus Inc.
Medifocus owns a patented microwave focusing technology platform
(the Adaptive Phased Array (APA) technology), which can precisely
target and control microwave energy to cause heating in cancerous
tumors anywhere in the body reliably and repeatedly. The ability to
target tumors with a precision controlled dose of heat can be used
to destroy tumors at higher temperatures, to treat tumors in
combination with chemotherapy and/or radiation at moderate
temperatures for increased effectiveness and reduced toxicity and
to trigger the targeted release of therapeutic drugs and genes at
tumor sites at lower temperatures. While the core technology has
been licensed from the Massachusetts Institute of Technology,
Medifocus has further refined the precision of the microwave
focusing and control ability and developed a commercial system
dedicated exclusively for the treatment of Breast Cancer. Please
visit www.medifocusinc.com for more details.
Forward-Looking Statements and Information
This news release contains forward-looking statements, which may
not be based on historical facts. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors
that may cause the actual results events or developments to be
materially different from any future results, events or
developments expressed or implied by such forward-looking
statements. These factors should be considered carefully and
readers are cautioned not to place undue reliance on such
forward-looking statements. The Company disclaims any obligation to
update any such factors or to publicly announce the results of any
revisions to any of the forward-looking statements contained herein
to reflect future results, events or developments.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Medifocus Inc. John Mon (410) 290-5734
jmon@medifocususa.com www.medifocusinc.com
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