Toronto, Ontario--(Newsfile Corp. - January 28, 2015) - Gemoscan Canada, Inc. (TSXV: GES) (MUN: 1GE) ("Gemoscan" or the "Company"), further to Gemoscan's press release of January 19, 2015, it wishes to announce that its proposal to settle a shares-for-debt agreement totaling $15,000 (the "Debt"), with a non-arm's-length party has been accepted by the TSX Venture Exchange. The Debt has been settled through the issuance of 300,000 Class A Shares (the "Shares") of the Corporation at a deemed price of $0.05 per Share. The Shares issued will be subject to a 4-month-plus-1-day hold period from January 27, 2015.
This shares for debt settlement, and subsequent issuance of the Shares, will not create a new Control Person.
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 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.
Forward-Looking Information
This news release contains certain "forward-looking information". All statements, other than statements of historical fact, 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:
Company:
Brian Kalish
Chief Executive Officer
Gemoscan Canada, Inc.
Tel: 416.650.1200
bkalish@gemoscan.com
www.gemoscan.com
