SOURCE: Bio-Matrix Scientific Group, Inc.
SAN DIEGO, CA--(Marketwired - Mar 6, 2014) - Bio-Matrix Scientific Group Inc. (OTCQB: BMSN) announced March 18, 2014 as the record date established by BMSN for determining shareholders eligible to receive a special dividend consisting of a pro rata share of 20,000,000 Regen BioPharma common shares ("Special Dividend"). All shareholders of record as of the Record Date shall receive the Special Dividend. It is anticipated that shareholders of record shall receive one share of Regen Biopharma, Inc. for every 147 shares of BMSN. The 147 may consist of common, any series of preferred, or any combination thereof.
Payment of the Special Dividend is contingent on effectiveness of a registration statement filed with the United States Securities and Exchange Commission (SEC) registering the shares to be distributed under the Securities Act of 1933 as well as completion of review and processing of the notification of the Special Dividend provided by BMSN to the Financial Industry Regulatory Authority (FINRA) pursuant to federal law.
Currently there are 51,910,000 common shares issued and outstanding. Bio-Matrix Scientific Group Inc. owns 50,000,000 of these issued common shares. Bio-Matrix plans on distributing 20,000,000 of its shares to Bio-Matrix shareholders of record on March 18, 2014 (with a pay date subject to SEC and FINRA approvals). After the distribution of 20,000,000 shares, Bio-Matrix Scientific Group will still be a majority owner of Regen BioPharma, as it will own 30,000,000 common Regen BioPharma Inc. shares.
About Regen BioPharma: Regen BioPharma, Inc., a subsidiary of Bio-Matrix Scientific Group, Inc. (OTCQB: BMSN), is a biotechnology company focused on identifying undervalued regenerative medicine applications in the stem cell space and rapidly advancing these technologies through pre-clinical and Phase I/ II clinical trials. Currently the Company is focused on developing treatments for Aplastic Anemia and a gene silencing therapy for treating cancer. For more information refer to the company's website http://www.regenbiopharma.com/
Disclaimer: This news release may contain forward-looking statements. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.