WINNIPEG, MANITOBA--(Marketwired - Jan. 20, 2014) - Miraculins Inc. (TSX VENTURE:MOM), ("Miraculins" or the "Company") a medical diagnostic company focused on acquiring, developing and commercializing diagnostic and risk assessment technologies for unmet clinical needs, today issues the following letter to shareholders from Company President & CEO Christopher Moreau:
Dear Fellow Shareholders:
As Miraculins' President and CEO, and as a shareholder myself, I want to take this opportunity to thank you for your decision to become an investor and for your ongoing support as we continue to progressively build our company.
I also want to take a moment to provide you with some additional information regarding the recent announcement to consolidate Miraculins shares, along with some further perspective on the company, its strengths, and our long-term goals and objectives.
Miraculins Stock Consolidation
From time to time, companies listed on the TSX Venture exchange will announce a consolidation of their share structure when the company is planning to change direction, change its name, or to start fresh as part of a major corporate reorganization. This is not the case with the proposed Miraculins stock consolidation. I want all shareholders to clearly understand that Miraculins remains committed to achieving the goal of building a world-class medical device company by bringing our innovative technologies to those in need around the world, and generating the financial rewards that can result for our shareholders. The consolidation is subject to the approval of the TSX Venture Exchange.
The Board of Director's decision to consolidate our stock following the approval of a special resolution at Miraculins' 2013 AGM, was primarily based on the objective of achieving a more rational share price that better reflects the company's technology value and its future commercial promise. The proposed consolidation is also anticipated to enable the company to be more attractive to the widest range of potential investors.
Because Miraculins is a public company, with investors around the globe, it is impossible for me to meet or speak with each one of you personally. If I could, I would tell you in the strongest words possible that in addition to the ground-breaking Scout DS®, PreVu®, and Preeclampsia technologies being steadily advanced, one of Miraculins greatest assets is the dedicated team of management and staff I have the privilege of leading.
Behind the scenes, working with enthusiasm and perseverance, are specialists in multiple key areas including quality assurance, regulatory, research and development, engineering, manufacturing, sales and marketing, communications, intellectual property, as well as logistics and business development. Working alongside of them are highly-skilled experts providing important legal, accounting and corporate finance guidance. I am proud to be the President and CEO of a company with team members whose individual and collective tenacity and desire to see Miraculins succeed is exceptional.
Staying the Course
There is no question that our path is a challenging one, and that the commercial introduction of new medical technologies carries with it significant obstacles along the way. Difficult capital markets can make it hard to access much needed capital investment on a timely basis for operations and growth. Additionally, long buying cycles can delay product launches and initiatives, and the highly regulated industry we work in can also add significant costs to the bottom line.
Having said this, the commensurate rewards and upside can be significant for shareholders as well, as we continue to work towards realizing our business objectives and goals. While we are still in the early stages of introducing these new technologies to the market, we remain committed to our present path of innovative, stage-based commercialization and growth.
We believe strongly in our technologies, in their capacity to impact patients in need worldwide, and we believe in the corresponding potential of our company to build and achieve significant value for shareholders along the way.
Thank you again for your ongoing support.
Christopher J. Moreau, President and CEO & Shareholder, Miraculins Inc.
About Miraculins Inc.
Miraculins is a medical diagnostic company focused on acquiring, developing and commercializing non-invasive technologies for unmet clinical needs. A significant number of promising diagnostic opportunities remain un-commercialized because of the sizable gap between the discovery stage, when research institutions are typically involved, and the commercialization stage, when the larger commercial enterprises become interested. Miraculins has direct experience in bridging this gap. The Company's PreVu® POC Test is a revolutionary new coronary artery disease risk assessment technology that measures cholesterol levels in a patient's skin non-invasively, painlessly and without the need for fasting. The Company's Scout DS® system is the first non-invasive diabetes testing system designed to provide a highly sensitive and convenient method for measuring diabetes related biomarkers in the skin, the accumulation of which are accelerated by abnormal blood sugar levels and oxidative stress. Unlike current testing methods, a Scout DS® test requires no blood draw, no fasting, and no waiting for a lab result. The product has been used and validated in thousands of patients around the world. The Company's preeclampsia program is partnered with Alere Inc., one of the world's largest diagnostic companies. For more information visit www.miraculins.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Information
"Certain statements contained in this press release constitute forward-looking information within the meaning of applicable Canadian provincial securities legislation (collectively, "forward-looking statements"). These forward-looking statements include statements regarding the receipt of TSX Venture Exchange approval for the proposed share consolidation, the anticipated effects of the consolidation, the rewards and upside for shareholders, the realization of the company's business objectives and goals and the potential of the company to build and achieve significant value for shareholders. These forward-looking statements relate to, among other things, our objectives, goals, targets, strategies, intentions, plans, beliefs, estimates and outlook, including, without limitation, our anticipated future operating results, and can, in some cases, be identified by the use of words such as "believe," "anticipate," "expect," "intend," "plan," "will," "may" and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements.
These statements reflect management's current beliefs and are based on information currently available to management. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from these expectations include, among other things: Miraculins' early stage of development, lack of product revenues and history of operating losses, uncertainties related to clinical trials and product development, rapid technological change, uncertainties related to forecasts, competition, potential product liability, additional financing requirements and access to capital, unproven markets, supply of raw materials, income tax matters, management of growth, partnerships for development and commercialization of technology, effects of insurers' willingness to pay for products, system failures, dependence on key personnel, foreign currency risk, risks related to regulatory matters and risks related to intellectual property and other risks detailed from time to time in Miraculins' filings with Canadian securities regulatory authorities, as well as Miraculins' ability to anticipate and manage the risks associated with the foregoing. Additional information about these factors and about the material factors or assumptions underlying such forward-looking statements may be found in the body of this news release. Miraculins cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on Miraculins' forward-looking statements to make decisions with respect to Miraculins investors and others should carefully consider the foregoing factors and other uncertainties and potential events.
These risks and uncertainties should be considered carefully and prospective investors should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Miraculins cannot provide assurance that actual results will be consistent with these forward-looking statements. Miraculins undertakes no obligation to update or revise any forward-looking statements."
PreVu® and Scout DS® are registered trademarks of Miraculins Inc. All Rights Reserved. 2014.