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Imagin blames outside players for promotional e-mails

2018-11-28 17:19 ET - News Release

Mr. Jim Hutchens reports

IMAGIN MEDICAL COMMENTS ON RECENT PROMOTIONAL ACTIVITY PURSUANT TO OTC MARKETS REQUEST

Imagin Medical Inc. is providing a statement regarding certain market activity surrounding its common shares.

On Nov. 26, 2018, the company was notified by the OTC Markets about certain promotional e-mails distributed in relation to its common shares from Nov. 23 through Nov. 26, 2018. Based on a review of the recent trading activity in the common shares, it appears that the effect of these promotional e-mails may have been an increase in the volume of common shares traded on Nov. 26, 2018, on the OTCQB. It is not, however, possible to accurately quantify this effect, and there was virtually no change in the closing price of the common shares on Nov. 26, 2018.

After due inquiry, Imagin confirms that neither the company nor any of its officers, directors or, to the knowledge of the company, controlling shareholder (that is, shareholders owning 10 per cent or more of the common shares) or third party service provider were involved, directly or indirectly, with the creation and/or distribution of the promotional e-mails, nor did they authorize or pay for such. The promotional e-mails were created, distributed and paid for by an unknown and unaffiliated third party.

While it appears from reviewing the promotional e-mails that certain statements and claims made therein were taken from the company's website, historical press releases and other public documents, Imagin did not have any editorial control over the content. Further, there were certain statements made in the promotional e-mails which encouraged investors to purchase the common shares. These statements expressed the views of the authors only and the company disclaims any potentially exaggerated or misleading statements contained in the material. In addition, the company has determined that certain statements included in the promotional e-mails might be misleading and/or incomplete and cautioned recipients should not place undue reliance on these promotional e-mails. Specifically, the company does not condone the use of sensational language to describe its business prospects or growth potential within its industry. The company does not condone any statements made regarding the urgency of investing in the common shares, or any other similar statements. Finally, the company notes that investing in the common shares involves certain risks and uncertainties that investors should review prior to making any investment decision. The company encourages all investors to undertake proper due diligence and carefully consider all investment decisions. The company directs potential investors to rely solely on its filings and disclosures made with Canadian securities regulators available at SEDAR on-line, and on the OTC Disclosure & News Service, also available on-line.

Since Nov. 1, 2017, the company has engaged the following providers of investor relations, public relations, advertising and other related services, including the advertising of the company and its common shares: Capital Ideas Media, Bolero Companies, Johl Jetkar Consulting, Oceanpoint, Public Eye, Hybrid Capital, Financial Buzz, Tyler Media, Integral Wealth Services, Thought Launch Capital, Think Ink Marketing, Stockhouse Publishing and Kilmer Lucas Inc.

After due inquiry, no officer, director or, to the knowledge of the company, controlling shareholder or third party service provider, has sold or purchased shares of the company within the last 90 days.

In April, 2018, Imagin completed a well-publicized private placement of a total of 17,919,820 units at 22 cents per unit, which represented a slight discount to the then closing price of its common shares. Each unit consisted of one common share and one common share purchase warrant, with each warrant entitling the holder to acquire one additional common share at a price of 38 cents within 24 months from the date of issuance. Other than the private placement, the company has not issued any common share or convertible instruments at a discount to the then current market price.

About Imagin Medical Inc.

Imagin is developing new imaging solutions for the detection and visualization of cancer. The company believes its technology will radically improve cancer care during minimally invasive procedures, improving the surgeon's ability to visualize, identify and remove cancerous cells. Imagin's initial target market is bladder cancer, the sixth most common cancer in the United States, and the costliest cancer to treat due to a greater than 50-per-cent recurrence rate.

We seek Safe Harbor.

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