TORONTO, ONTARIO--(Marketwire - Feb. 16, 2012) - Gemoscan Canada, Inc. ("Gemoscan" or the "Corporation") - (CNSX:GES) (MUN:1GE) is pleased to announce that further to its press releases dated November 29, 2011 and December 12, 2011 it has fulfilled all of the conditions necessary to list on the TSX Venture Exchange (the "TSXV").
The Corporation closed its offering by way of TSXV Short Form Offering Document by issuing 2,520,000 units (the "Units") for gross proceeds of $882,000. Each Unit consists of one (1) Class A Share and one (1) share purchase warrant entitling the holder to purchase a further Class A Share at a price of $0.55 per share until February 16, 2014. Canaccord Genuity Corp. ("Canaccord") acted as agent for the offering and received a cash commission of $74,970 plus a corporate finance fee of $40,000 and was reimbursed for expenses. Canaccord also received 226,800 warrants to acquire Class A Shares equal to 9% of the Units placed at a price of $0.55 per share until February 16, 2014.
It is anticipated that the TSXV will issue its bulletin tomorrow announcing the listing of the Class A Shares effective the opening of trading on Tuesday, February 21, 2012. The Class A Shares will continue to trade under the symbol "GES". The Corporation will cease trading on the CNSX at the close of business on February 17, 2012.
Macquarie Private Wealth Inc. has acted as the Corporation's sponsor in connection with the Corporation's application to list its shares on the Exchange.
ABOUT GEMOSCAN CANADA, INC.
Founded in 2003, Gemoscan Canada Inc. owns and markets the HEMOCODE™ Food Intolerance System, a personalized naturopathic nutritional program that promotes well-being. HEMOCODE™ uses patented technology and services to provide consultation and recommendations to simplify the management of food sensitivities.
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.
The CNSX has not reviewed and does not accept responsibility for the adequacy of this release.