Gemoscan Announces Extension to Shares for Service Agreement
March 01 2013 - 3:15PM
Gemoscan Canada, Inc. ("Gemoscan" or the "Company") – (TSX-V:GES),
(MUN:1GE) announces that, further to its press release of September
12, 2012, it is seeking approval from the TSX Venture Exchange
("TSXV") to extend an existing shares for service application (the
"Original Submission"). Under the Original Submission, the Company
issues shares for services to a consultant of the Company in
exchange for the provision of certain strategic advisory services.
The Company has applied to the TSXV to extend the Original
Submission by a three month term (the "Extension Term"), with the
Extension Term running consecutively from the Company's Original
Submission.
Pursuant to the Extension Term, the Company will be issuing
Cdn.$7,000 in Class A Shares ("Shares") per month to the
consultant. The number of Shares to be issued to the consultant
each month will be determined by using the closing price of the
Shares on the TSXV on the first trading day of the month following
the month for which the services were rendered by the
consultant.
The provisions of the Extension Term are 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.
Company website: www.gemoscan.com
CONTACT: FOR ADDITIONAL INFORMATION CONTACT:
Gemoscan Canada, Inc.
Brian Kalish
Director, President and CEO
(416) 650-1200
Email: bkalish@hemocode.com