Back to Newsroom
Back to Newsroom

StageZero Life Sciences Announces Share Consolidation Completion

Friday, 18 September 2020 07:45 AM

StageZero Life Sciences Ltd

TORONTO, ON / ACCESSWIRE / September 18, 2020 / StageZero Life Sciences, Ltd (TSX:SZLS) ("StageZero" or the "Corporation") announced that trading of the common shares on the TSX on a post-Consolidation basis commences at market open on September 18, 2020. The Corporation's warrants, including its TSX-listed warrants, and convertible debentures have also proportionately adjusted in accordance with their terms effective September 18, 2020.

The Consolidation was approved by the shareholders at the Special and Annual General Meeting on August 17, 2020, and announced on September 8, 2020.

"With bank support into the critical institutional investor segment as StageZero grows in sophistication and reach, significant revenue being generated from our COVID strategy as new clients come on board, and with Aristotle coming into a market that is getting good exposure; we felt now was the time to consolidate as we position StageZero correctly," said James Howard-Tripp, Chairman and CEO.

As a consequence of the consolidation, the Corporation's 391,521,071 pre-consolidation common shares are reduced to approximately 48,940,134 common shares on a post-Consolidation basis. No fractional common shares of the Corporation were issued in connection with the Consolidation. The new CUSIP for the post-Consolidation common shares is 852540301.

Effective today, warrants issued by the Company, including its TSX-listed warrants (such TSX-listed warrants are the "Listed Warrants") have also been adjusted proportionately in response to the Consolidation. On September 18, 2020, the exercise of eight (8) Listed Warrants will be required to purchase one (1) post-Consolidation common share for an aggregate exercise price of $0.72 per whole Common Share. The Listed Warrants continue to trade under their existing CUSIP.

Additionally, effective today, the currently issued convertible debentures of the Corporation are adjusted such that their conversion price is $0.32 per unit (each a "Unit"), and each Unit shall consist of one post-Consolidation common share and one-half (1/2) of a share purchase warrant, which warrant will also be adjusted such that each whole warrant exercised on or after September 18, 2020 will entitle the holder thereof to purchase one (1) post-Consolidation common share at an exercise price of $0.56 per whole common share.

About StageZero Life Sciences, Ltd.

StageZero Life Sciences is dedicated to the early detection of multiple disease states through whole blood. The Company operates a CAP accredited and CLIA certified high complexity reference laboratory based in Richmond, Virginia. A specialist in PCR testing for the early identification of Cancer through blood, the Company is uniquely positioned to provide both COVID PCR testing (live virus) and blood test analysis (Antibody testing). Our full service, telehealth platform includes access to physicians and phlebotomists who can prescribe and draw samples for individuals and groups. As we provide COVID-19 test during this Pandemic, we continue making progress with our mission to eradicate late stage cancers through early detection. Our next generation test, Aristotle®, is a multi-cancer panel for simultaneously screening for 10 cancers from a single sample of blood with high sensitivity and specificity for each cancer. www.stagezerolifesciences.com

Company Contacts:
James R. Howard-Tripp
Chairman & CEO
[email protected]
Tel: 1-855-420-7140 Ext. 1

Rebecca Greco
Investor Relations
[email protected]
Tel: 1-855-420-7140 Ext. 1838

SOURCE: StageZero Life Sciences Ltd

Topic:
Company Update
Back to newsroom
Back to Newsroom

Contact Us Today


If you have questions or want to learn more about our products, our team’s here to help!

Share by: