Medexus Announces DTC Eligibility of its Common Shares in the United States
August 15 2019 - 3:05PM
Medexus Pharmaceuticals Inc. (the “
Company” or
“
Medexus”) (TSXV: MDP, OTCQB: PDDPF) is pleased to
announce that the Company's common shares traded in the United
States, under the symbol PDDPF, are Depository Trust Company
(“
DTC”) eligible.
DTC is a subsidiary of the Depository Trust
& Clearing Corporation, a U.S. company that manages the
electronic clearing and settlement of publicly traded companies.
DTC is a member of the U.S. Federal Reserve System, a
limited-purpose trust company under New York State banking law, and
a registered clearing agency with the U.S. Securities and Exchange
Commission. Securities that are eligible to be electronically
cleared and settled through DTC are considered to be “DTC
eligible”. DTC services provide simplification, convenience,
and cost benefits for investors and brokers trading Canadian
securities in the United States.
Ken d’Entremont, Chief Executive Officer of the
Company, commented that:
“We are very pleased to have obtained DTC eligibility. We
believe that this status will greatly simplify the process of
investors and brokers trading and exchanging our stock in the
United States, which will benefit Medexus and our shareholders. We
also expect that being DTC eligible will improve our overall share
liquidity and the attractiveness of Medexus’ shares on the
market.”
In addition to trading in the United States,
Medexus' shares continue to trade on the TSX Venture Exchange
(TSXV: MDP).
About Medexus Pharmaceuticals
Inc.
Medexus is a leading specialty pharmaceutical
company with a strong North American commercial platform. The
Company’s vision is to provide the best healthcare products to
healthcare professionals and patients, through our core values of
Quality, Innovation, Customer Service and Teamwork. Medexus is
focused on the therapeutic areas of auto-immune disease and
pediatrics. The leading products are Rasuvo and Metoject, a unique
formulation of methotrexate (auto-pen and pre-filled syringe)
designed to treat rheumatoid arthritis and other auto-immune
diseases; and Rupall, an innovative allergy medication with a
unique mode of action.
For further information, please
contact:
Ken d’Entremont, Chief Executive Officer Medexus Pharmaceuticals
Inc. Tel: 905-676-0003E-mail: ken.dentremont@medexus.com
Roland Boivin, Chief Financial Officer Medexus Pharmaceuticals
Inc. Tel: 514-762-2626 ext. 202E-mail: roland.boivin@medexus.com
Investor Relations
(U.S.):Crescendo Communications, LLCTel:
+1-212-671-1020E-mail: mdp@crescendo-ir.com
Investor Relations
(Canada):Frank CandidoDirect Financial Strategies and
Communication Inc.Tel: 514-969-5530E-mail:
frank.candido@medexus.com
Neither the 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.
Forward Looking Statements
Certain statements made in this press release
contain forward-looking information within the meaning of
applicable securities laws (“forward-looking
statements”). The words “anticipates,” “believes,”
“expects,” will,” and similar expressions are often intended to
identify forward-looking statements, although not all
forward-looking statements contain these identifying words.
Specific forward-looking statements contained in this news release
include, but are not limited to, statements with respect to our
belief that the Company’s common shares being DTC eligible will
simplify the process to trade such common shares in the United
States, and that the liquidity and trading volumes of the Company’s
common shares will be positively impacted by the DTC eligibility,
as well as the future benefits provided to the Company and its
shareholders, including with respect to future improvements to
overall liquidity. These statements are based on factors or
assumptions that were applied in drawing a conclusion or making a
forecast or projection, including assumptions based on historical
trends, current conditions and expected future developments. Since
forward-looking statements relate to future events and conditions,
by their very nature they require making assumptions and involve
inherent risks and uncertainties. The Company cautions that
although it is believed that the assumptions are reasonable in the
circumstances, these risks and uncertainties give rise to the
possibility that actual results may differ materially from the
expectations set out in the forward-looking statements. Material
risk factors include those set out in the Company's most recent
MD&A, future capital requirements and dilution; intellectual
property protection and infringement risks; competition (including
potential for generic competition); reliance on key management
personnel; the Company’s ability to implement its business plan;
the Company’s ability to leverage its United States and Canadian
infrastructure to promote additional growth, including with respect
to the infrastructure of Medexus Inc. and Medac Pharma, Inc. and
the potential benefits the Company expects to derive therefrom,
regulatory approval by the Canadian health authorities; product
reimbursement by third party payers; patent litigation or patent
expiry; litigation risk; stock price volatility; government
regulation; potential third party claims. Given these risks, undue
reliance should not be placed on these forward-looking statements,
which apply only as of the date hereof. Other than as specifically
required by law, the Company undertakes no obligation to update any
forward-looking statements to reflect new information, subsequent
or otherwise.
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