Hemostemix Inc
TSX VENTURE : HEM
OTCQX : HMTXF

January 06, 2017 15:36 ET

Hemostemix Announces Corporate Update

TORONTO, ONTARIO--(Marketwired - Jan. 6, 2017) -

NOT FOR DISSEMINATION TO U.S. WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Hemostemix Inc. ("Hemostemix" or the "Company") (TSX VENTURE:HEM) (OTCQX:HMTXF) announces the resignations of Victor Redekop and Lee Buckler as directors of the Company effective January 6, 2017. The Company would like to thank Mr. Redekop and Mr. Buckler for their valuable contributions and wish them well with their future endeavors.

Pursuant to TSX-V policies and the Company's Articles of Incorporation, it is required to have a minimum three directors. As a result of the resignations, the Company has only one remaining director, Angus Jenkins, and is in breach of TSX-V policies. The Company has requested that trading be halted and remain halted pending the appointment of additional directors. A further update will be provided once the Board has been reconstituted and the Company is able to satisfy the TSX-V's continued listing requirements.

The Company wishes to thank shareholders for their ongoing support during this difficult transition.

ABOUT HEMOSTEMIX INC.

Hemostemix is a public clinical-stage biotechnology company that develops and commercializes innovative blood-derived cell therapies for medical conditions not adequately addressed by current treatments. It is the first clinical-stage biotech company to test a stem-cell therapy in an international, multicenter, phase 2 clinical trial for patients with critical limb ischemia (CLI), a severe form of peripheral artery disease (PAD) caused by reduced blood flow to the legs. The phase 2 trial targets a participant's diseased tissue with proprietary cells grown from his or her blood that are capable of supporting the formation of new blood vessels.

Hemostemix currently enrolls participants in the phase 2 trial at four sites in South Africa and two sites in Canada. The Company recently received FDA clearance to commence clinical trials in the United States.

Hemostemix Inc. is traded on the TSX Venture Exchange under the trading symbol HEM. For more information, visit www.hemostemix.com or email office@hemostemix.com.

Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined under the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential," and similar expressions, or that events or conditions "will," "would," "may," "could," or "should" occur. Although Hemostemix believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of Hemostemix management on the date such statements were made. Hemostemix expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.

Contact Information

  • David Berman
    Chief Financial Officer
    1414 8 Street SW, Suite 500
    Calgary, Alberta T2R 1J6
    Phone: (416) 274-2160
    E-Mail: dberman@hemostemix.com