Zomedica to Voluntarily Delist its Common Shares from TSX Venture Exchange Effective February 10, 2020
Common Shares will continue to be listed on the NYSE American
ANN ARBOR, Mich., Jan. 30, 2020 (GLOBE NEWSWIRE) -- (NYSE American: ZOM) (TSX-V: ZOM) (“Zomedica” or the “Company”) a veterinary diagnostic and pharmaceutical company, today announced that it has received approval of its application to delist its common shares from the TSX Venture Exchange (“TSXV”) effective at the close of business on February 10, 2020. Zomedica’s common shares will no longer be traded on the TSXV but will continue to trade on the NYSE American under the symbol “ZOM”.
Trading on the NYSE American since January 1, 2019 has represented approximately 99% of Zomedica’s trading volume. In light of the low trading volume of its shares on the TSXV, Zomedica determined that the costs associated with maintaining a dual listing were no longer justified. Further, the Company expects that the United States capital markets will continue to be the primary source of capital for Zomedica for the foreseeable future.
Upon completion of the delisting, Canadian shareholders will be able to continue to trade their shares on the NYSE American, which imposes listing requirements, including maintenance of minimum stockholders’ equity.
About Zomedica
Based in Ann Arbor, Michigan, Zomedica (NYSE American: ZOM) (TSX-V: ZOM) is a veterinary diagnostic and pharmaceutical company creating products for companion animals (canine, feline and equine) by focusing on the unmet needs of clinical veterinarians. Zomedica’s product portfolio will include novel diagnostics and innovative therapeutics that emphasize patient health and practice health. With a team that includes clinical veterinary professionals, it is Zomedica’s mission to give veterinarians the opportunity to lower costs, increase productivity, and grow revenue while better serving the animals in their care. For more information, visit .
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Reader Advisory
Neither 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 the release.
Except for statements of historical fact, this news release contains certain “forward-looking statements” or "forward-looking information" (collectively, “forward-looking information”) within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: market and other conditions, uncertainty as to whether our strategies and business plans will yield the expected benefits; uncertainty as to the timing and results of development work and pilot and pivotal studies, uncertainty as to the likelihood and timing of regulatory approvals, availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; our ability to secure and maintain strategic relationships; risks pertaining to permits and licensing, intellectual property infringement risks, risks relating to future clinical trials, regulatory approvals, safety and efficacy of our products, the use of our product, intellectual property protection, ability to raise equity capital to satisfy stockholders’ equity requirements of NYSE American and to otherwise comply with requirements of NYSE American, and the other risk factors disclosed in our filings with the Securities and Exchange Commission and Canadian securities regulatory authorities. There is a specific risk that if the Company is unable to maintain its listing on NYSE American, the market value and liquidity of the Company’s common shares will diminish. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
Investor Relations Contact:
Shameze Rampertab, CPA, CA, Interim Chief Executive Officer
+1 647.283.3630
PCG Advisory Group
Kirin Smith, COO
+1 646.863.6519
Media Contact:
Meredith Newman
+1 734.369.2555 ext. 119
