Gemoscan Canada (TSXV: GES) Provides Corporate Development Update
Toronto, Ontario - (Newsfile Corp. - June 30, 2014) (www.investorideas.com newswire) Gemoscan Canada, Inc. (TSXV: GES) (MUN: 1GE) ("Gemoscan" or the "Corporation") is providing this release as an update to its recently announced corporate development initiatives.
Pursuant to the Company's news release of May 08, 2014, due diligence continues to progress on the Company's proposed two stage transaction resulting in the intended acquisition of a 100% interest in 7 paramedical clinics currently owned by Novo Healthnet, in Southern and Southwestern Ontario.
Furthermore, pursuant to the Company's news release of May 28, 2014, the Company continues to undertake due diligence in its proposed acquisition of all of the issued and outstanding common shares of 2275518 Ontario Inc. operating as Abira Healthcare ("Abira Acquisition"). As directed by the TSX Venture Exchange (the "Exchange") the Company is required to obtain a sponsor under Policy 2.2 of the Exchange's rules ("Policy" and "Exchange Rules"). To this extent, M Partners Inc ("Sponsor" or "M Partners"), subject to completion of satisfactory due diligence, has agreed to act as sponsor to Gemoscan in connection with the Abira Acquisition.
According to the agreement with M Partners, the Sponsor will conduct an investigation into the principals, business and affairs of the Company including but not limited to the Company's disclosure documents and other materials relating to the Abira Acquisition that may be necessary to comply with the Policy, Exchange rules and other regulatory bodies as may be required. An agreement to sponsor by M Partners should not be construed as any assurance as to the merits of the Abira Acquisition or the likelihood of its completion.
The Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
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 naturopathic dietary management solutions for consumers, including the HEMOCODE™ System and the MenuWise™ Plan, personalized medically supervised programs that promote dietary well-being. Gemoscan is the first and only provider to commercialize a food sensitivity management solution directly to consumers in partnership with retailers, and today offers the most comprehensive services available.
Gemoscan also owns and operates Physiomed Kennedy Inc., and operates Physiomed Yorkdale Inc., both being multidisciplinary paramedical clinics, located in Toronto, Ontario.
Gemoscan Canada, Inc. trades its shares on the Toronto Venture Exchange under the symbol GES and is quoted on the Munich, Frankfurt and Stuttgart Stock Exchanges under the symbol 1GE.
About M Partners, Inc.
M Partners is an independent full service brokerage with offices in Toronto, Canada serving a global list of clients worldwide. M Partners was founded in 2005. Today there are over 25 investment professionals, working in Research, Sales and Trading and Investment Banking. M Partners has participated in over $5.0 billion of financings since the firm's inception and its equity research was ranked 2nd in First Coverage's 2010 Top Performing Canadian Firms.
M Partners is a member of the Investment Industry Regulatory Organization of Canada (IIROC), the Canadian Investor Protection Fund (CIPF) and a Participating Organization of the Toronto Stock Exchange (TSX) and the TSX Venture Stock Exchange (TSXV).
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 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.
For more information please contact:
Chief Executive Officer
Gemoscan Canada, Inc.
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