VANCOUVER, March 18, 2024 /CNW/ - PanGenomic Health Inc. ("PanGenomic Health" or the "Company") (CSE: NARA) announces that it intends to consolidate (the "Consolidation") all of its issued and outstanding Class A Common Shares ("Common Shares") on the basis of ten (10) pre-Consolidation Common Shares for every one (1) post-Consolidation Common Share.
There are currently 104,967,459 issued and outstanding. Upon completion of the Consolidation, there is expected to be approximately 10,496,746 Common Shares issued and outstanding, subject to rounding of fractional Common Shares. No fractional Common Shares will be issued as a result of the Consolidation. Fractional Common Shares equal to or greater than one-half (1/2) will be rounded up to the one whole number. Fractional Common Shares less than one-half (1/2) will be cancelled without any repayment of capital or other compensation.
The Common Shares are expected to begin trading on a consolidated basis on the Canadian Securities Exchange ("CSE") on March 21, 2024. The record date for the Consolidation is March 22, 2024. The Consolidation is subject to approval by the CSE.
The new CUSIP number for the post-Consolidation Common Shares will be 69842E304 and the new ISIN will be CA69842E3041. The Common Shares will continue to trade on the CSE under the symbol "NARA", and the Company's name will not change.
Management of the Company believes that the Consolidation will provide the Company with a share structure that will better attract future capital financing and enhance growth opportunities.
Withdrawal from AQSE
Further to the Company's news release on February 20, 2024, trading of the Common Shares on the Aquis Stock Exchange Growth Market (the "AQSE") ceased on March 15, 2024.
About PanGenomic Health
PanGenomic Health is a precision health company that has developed a self-care digital platform to deliver personalized, evidence-based information about natural treatments. The Company's initial focus is to support mental health. Registered as a British Columbia benefit company, PanGenomic Health's mission is to promote and improve the health and wellness of people and society by providing a technology platform that identifies plant-based solutions tailored to the health profile of each individual.
This news release includes certain statements that may be deemed "forward-looking statements", including statements respecting the services to be provided by PanGenomic Health and the consideration to be paid to PanGenomic Health. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although PanGenomic Health believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because PanGenomic Health can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in PanGenomic Health's disclosure documents which can be found under PanGenomic Health's profile on www.sedarplus.ca.
The Canadian Securities Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.
SOURCE PanGenomic Health Inc.
For further information: Jerry Lai, Investor Relations, PanGenomic Health Inc., +1 778 743 4642, [email protected]
