- Expected to enhance visibility and access to U.S. investors
- Trading to commence on March 6, 2025
TORONTO, March 06, 2025 (GLOBE NEWSWIRE) -- Conavi Medical Corp. (TSXV: CNVI; OTCQB: CNVIF) ("Conavi Medical" or the "Company"), a commercial stage medical device company focused on designing, manufacturing, and marketing imaging technologies to guide common minimally invasive cardiovascular procedures, today announced that its common shares have been approved for uplisting from the OTC Pink Open Market to the OTCQB Venture Market, with trading set to commence on March 6, 2025. The ticker symbol will remain CNVIF, and no action is needed by shareholders. Trading on the OTCQB is expected to complement the Company's existing listing on the TSX Venture Exchange.
"As we move toward commercial launch of our next-generation Novasight system, we're pleased to increase investor transparency and visibility with this uplisting," said Thomas Looby, Conavi Medical's CEO. "We believe this step will increase our exposure to the U.S. investment community and broaden our investor base."
Operated by the OTC Markets Group, the OTCQB Venture Market is a U.S. trading platform designed for developing and entrepreneurial-stage companies. The Securities and Exchange Commission considers the OTCQB to be an "established public market" for determining the public market price when registering securities for resale. Companies listed on the OTCQB are current in their reporting and undergo an annual verification and management certification process. Additional information about the OTC Markets Group Inc. and the OTCQB can be found at otcmarkets.com.
About Conavi Medical
Conavi Medical is focused on designing, manufacturing, and marketing imaging technologies to guide common minimally invasive cardiovascular procedures. Its patented Novasight Hybrid System is the first system to combine both intravascular ultrasound (IVUS) and optical coherence tomography (OCT) to enable simultaneous and co-registered imaging of coronary arteries. The Novasight Hybrid System has 510(k) clearance from the U.S. Food and Drug Administration; and regulatory approval for clinical use from Health Canada, China's National Medical Products Administration, and Japan's Ministry of Health, Labor and Welfare. For more information, visit conavi.com.
Cautionary Statement Regarding Forward-Looking Information
This news release contains "forward-looking statements" within the meaning of applicable Canadian and U.S. securities laws, which reflect the current expectations of management of Conavi's future growth, results of operations, performance and business prospects and opportunities. Forward-looking statements are frequently, but not always, identified by words such as "may", "would", "could", "will", "anticipate", "believe", "plan", "expect", "intend", "estimate", "potential for" and similar expressions, although these words may not be present in all forward-looking statements. Forward-looking statements that appear in this release may include, without limitation, references to Conavi's plans for the commercialization of its Novasight Hybrid System.
These forward-looking statements reflect management's current beliefs with respect to future events, and are based on information currently available to management that, while considered reasonable by management as of the date on which the statements are made, are inherently subject to significant business, economic and competitive uncertainties and contingencies which could result in actions, events, conditions, results, performance or achievements to be materially different from those projected in the forward-looking statements. Forward-looking statements involve significant risks, uncertainties and assumptions and many factors could cause Conavi's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Such factors and assumptions include, but are not limited to, Conavi's ability to retain key personnel; its ability to execute on its business plans and strategies; and other factors listed in the "Risk Factors" sections of the joint information circular of Conavi dated August 30, 2024 and of the Preliminary Prospectus of the Company dated January 29, 2025 (each of which may be viewed at sedarplus.com). Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance, or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements.
Although the forward-looking statements contained in the news release are based upon what management currently believes to be reasonable assumptions and Conavi has attempted to identify important factors that could cause actual actions, events, conditions, results, performance or achievements to differ materially from those described in forward-looking statements, Conavi cannot assure prospective investors that actual results, performance or achievements will be consistent with these forward-looking statements. Except as required by law, Conavi expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. Accordingly, investors should not place undue reliance on forward-looking statements. All the forward-looking statements are expressly
qualified by the foregoing cautionary statements.
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 press release.
Contacts
Stefano Picone
Chief Financial Officer
ir@conavi.com
(416) 483-0100
