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PetVivo Holdings, Inc. Announces Reverse Stock Split

Monday, 08 September 2014 03:49 PM

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MINNEAPOLIS, MN / ACCESSWIRE / September 8, 2014 / PetVivo Holdings, Inc. (OTCPINK:PETVD) today announced completion of a 1-for500 reverse stock split of outstanding shares of common stock in order to improve its capitalization structure and market appeal to the investor and financial community.

This reverse stock split has been declared effective by FINRA on September 8th, 2014 after which the Company’s common stock will trade for 20 days on a post-split basis under the temporary symbol “PETVD”, with the “D” added to signify that the reverse stock split has occurred.

As a consequence of this reverse stock split, every 500 pre-split common shares of the Company will be combined into one share of the post-split common stock. After giving effect to this transaction, the number of shares of outstanding common stock of the Company is reduced to 7,620,301.

About PetVivo, Inc:

PetVivo, Inc. is a wholly owned subsidiary of PetVivo Holdings, Inc. (OTCPINK:PETVD) based in Minneapolis, Minnesota. PetVivo is an emerging biomedical device company focused on the licensing and commercialization of innovative medical devices and other therapeutics for pets.

PetVivo believes that it can leverage the investments in the human biomaterials and medical device industries to commercialize therapeutics to pets in a capital and time efficient way. PetVivo's strategy is to in-license proprietary products from human medical device companies specifically for use in pets. A key component of this strategy is the accelerated timeline to revenues for veterinary medical devices, which enter the market much earlier than the more stringently regulated pharmaceuticals.

PetVivo’s lead product, Kush™ Canine, for the treatment of canine osteoarthritis, is scheduled for commercial launch in Q1 2015, followed shortly thereafter by Kush™ Equine, for the treatment of lameness in horses, in Q4 of 2015. The Kush devices are a small part of a large pipeline of patented animal and human therapeutics developed and manufactured by Gel-Del Technologies, Inc. PetVivo previously announced that PetVivo and Gel-Del Technologies have entered into a binding term sheet for a merger. Under the agreed upon terms Gel-Del will merge with PetVivo Holdings and upon resolution of certain conditions specified as terms, a definitive agreement will consummate the merger.

Forward-Looking Statements:

The foregoing material may contain forward-looking statements. We caution that such statements may be subject to uncertainties and that actual results could differ materially from the forward-looking statements. Readers accordingly should not place undue reliance on these forward-looking statements, which do not reflect unknown or unanticipated events or circumstances occurring after the date of these forward-looking statements.

CONTACT:

John Lai
Chief Executive Officer
PetVivo Holdings, Inc.
Email: [email protected]
Phone: 612-296-7305

 

Source: PetVivo Holdings, Inc.

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