Mr. Thomas Smeenk reports
HEMOSTEMIX ANNOUNCES CORPORATE UPDATE
Hemostemix Inc.'s previously disclosed proposed consolidation of the common shares on the basis of one postconsolidation share for 20 preconsolidation shares will take effect, subject to final acceptance by the TSX Venture Exchange, on or about Dec. 30, 2020, under new Cusip No. 423694306.
There will be no name change or trading symbol change in conjunction with the consolidation. The consolidation was approved by the company's shareholders at the annual general meeting held on May 6, 2020.
Following the consolidation, the total issued and outstanding common shares of the company will be approximately 46,368,985.
About Hemostemix Inc.
Hemostemix is a publicly traded autologous stem cell therapy company, founded in 2003. A winner of the World Economic Forum technology pioneer award, the company developed and is commercializing its lead product ACP-01 for the treatment of CLI, PAD, angina, ischemic cardiomyopathy, dilated cardiomyopathy and other conditions of ischemia. ACP-01 has been used to treat over 300 patients, and it is the subject of a randomized, placebo-controlled, double-blind trial of its safety and efficacy in patients with advanced critical limb ischemia, who have exhausted all other options to save their limb from amputation.
On Oct. 21, 2019, the company announced the results from its phase 2 CLI trial abstract presentation entitled "Autologous Stem Cell Treatment for CLI Patients with No Revascularization Options: An Update of the Hemostemix ACP-01 Trial With 4.5 Year Follow-up," which noted healing of ulcers and resolution of ischemic rest pain occurred in 83 per cent of patients, with outcomes maintained for up to 4.5 years.
The company owns 91 patents across five patent families titled: regulating stem cells, in vitro techniques for use with stem cells, production from blood of cells of neural lineage and automated cell therapy.
We seek Safe Harbor.
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