VANCOUVER, BRITISH COLUMBIA- (September 16, 2013) - Pacific Therapeutics Ltd. (CNSX:PT)(FRANKFURT:1P3) has become listed on the Quotation Board of the Frankfurt Stock Exchange (FWB) under the ticker symbol 1P3.
Douglas Unwin President and CEO of Pacific Therapeutics Ltd. (the "Company")said: "As we develop, this dual listing serves to diversify our shareholder base, potentially providing investors, increased liquidity of the security, a presence in the Euro zone and longer length of daily trading time for our stock ".
The Company became listed on the Frankfurt Stock Exchange (FWB) last week. The Company's shares continue to trade on Canadian National Stock Exchange as the main market. With the new dual listing in another time zone, the Company may attract new shareholders and raise its visibility among international investors.
At the annual meeting, shareholders elected the proposed following individuals as director: Wendi Rodrigueza, M. Greg Beniston, Douglas Wallis and Doug Unwin. In addition the shareholders approved the 2013 stock option plan.
ABOUT THE FRANKFURT EXCHANGE
The Frankfurt Stock Exchange (FWB) is the world's 10th largest stock exchange by market capitalization. Located in Frankfurt, Germany, the Frankfurt Stock Exchange is owned and operated by Deutsche Borse (FWB: DB1), which also owns the European futures exchange Eurex and the clearing company Clearstream. For more information please look at www.boerse-frankfurt.de.
ABOUT PACIFIC THERAPEUTICS LTD.
Pacific Therapeutics Ltd is a clinical stage specialty pharmaceutical company focused on the identification and development of drug candidates to treat diseases of excessive scarring (fibrosis).
The company's lead drug candidate PTL-202 is a combination of Pentoxifylline (a FDA approved drug used for treating intermittent claudication) and N-Acetyl-Cysteine (NAC) an amino acid and an extremely potent and important antioxidant. PTL-202 is currently being reviewed for initial trials in humans which are expected to commence in 2012. PTL-202 a combination of approved drugs focused on treating fibrosis such as Idiopathic Pulmonary Fibrosis and Liver Cirrhosis.
The Company's strategy includes reformulating approved drugs to increase efficacy and patient compliance, completing the further clinical testing, manufacturing and other regulatory requirements sufficient to seek marketing authorizations. This strategy may reduce the risk, time and cost of developing therapies for fibrosis by avoiding the risks associated with basic research and using compounds with unknown safety and toxicity profiles.
FORWARD LOOKING STATEMENTS
Certain statements included in this press release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.
Readers should not place undue reliance on the Company's forward-looking statements, as the Company's actual results, performance or achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements if known or unknown risks, uncertainties or other factors affect the Company's business, or if the Company's estimates or assumptions prove inaccurate. Therefore, the Company cannot provide any assurance that such forward-looking statements will materialize. The Company does not undertake to update any forward-looking information, except as, and to the extent required by, applicable securities laws.
On Behalf of the Board of Directors
/s/ Doug Unwin
Douglas H. Unwin, CEO & President
Leave a comment...