Miraculins Inc.

Miraculins Inc.

May 19, 2010 15:35 ET

Miraculins Retains the Services of CHF Investor Relations

WINNIPEG, MANITOBA--(Marketwire - May 19, 2010) - Miraculins Inc. (TSX VENTURE:MOM), a medical diagnostic company focused on developing and commercializing diagnostic tests for unmet clinical needs, is pleased to announce that it has engaged CHF Investor Relations (Cavalcanti Hume Funfer Inc., "CHF"), a well established Canadian Investor Relations firm headquartered in Toronto and operating under the same management for the past seventeen years. 

"Investor communication is of paramount importance to a growing public company like Miraculins. Recent developments warrant a broader audience for our Company and CHF will provide a solid outreach program and ongoing investor relations support as we highlight our progress and get our message out to current and prospective investors," commented Christopher Moreau, President and CEO of Miraculins.

Effective immediately, the services agreement for investor relations and market-making is for a fixed term ending May 14, 2011, subject to a satisfactory performance review after six months. In the absence of written termination notice by either party on May 14, 2011, the services agreement will continue thereafter on an open-ended basis with three months written notice required in order for either party to terminate the agreement.

Under the terms of the services agreement, which is subject to TSX Venture Exchange approval, CHF will receive $7,500 per month (discounted to $6,000 per month until the market-making service has been approved) and a total of 500,000 share purchase options valid for five years, with 250,000 options having an exercise price of $0.14 per share and the remaining 250,000 options having an exercise price of $0.19 per share. The options will vest quarterly over the 12-month term of the agreement, with 125,000 options vesting each quarter. All outstanding options will be cancelled 30 days after termination of the agreement as per TSX Venture Exchange rules applicable to Tier 2 Issuers.

It has been agreed that CHF will initiate a Market Liquidity Program, more commonly referred to as market-making, through its Calgary office. This Program will be undertaken by CHF through a registered broker in compliance with the guidelines set out in Policy 3.4 of the TSX Venture Exchange Corporate Finance Manual.

Prior to the grant of options outlined above, CHF had no direct or indirect interest in the Company or its securities.

About CHF Investor Relations

CHF's effective role is acting as the public company's outsourced, low-cost equivalent to an internal investor relations department. CHF serves an international portfolio of TSX / Venture-listed companies, and others that may seek to list on North American Exchanges that operate in a broad range of industries including biotech and high-tech, mining exploration and producers, oil & gas, industrial and business solutions and products, niche financial products, and "green" companies. The depth of capital market experience is formidable dating back to the late 1970's. CHF's head office is in Toronto, with another Canadian office in Calgary; as well as branch offices in New York, USA; São Paulo, Brazil; and Shanghai, China.

About Miraculins Inc.

Miraculins is a medical diagnostic development company focused on non-invasive tests for unmet clinical needs. Miraculins is bridging the gap between commercially available diagnostic tests and research conducted at leading research institutions around the world. The Company's lead program, a suite of biomarkers for preeclampsia, is partnered with Inverness Medical Innovations (NYSE:IMA), one of the world's largest diagnostic companies.

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"), such as statements regarding the execution of definitive documentation and the closing of the transaction. 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: the satisfaction of all of the closing conditions of the transaction, 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 statement.

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.

Contact Information

  • Miraculins Inc.
    Christopher J. Moreau
    President and CEO
    204-453-1546 (FAX)
    CHF Investor Relations
    Neil Murray-Lyon
    Senior Account Manager
    CHF Investor Relations
    Alison Tullis
    Senior Account Manager
    416-868-1079 x233
    416-868-6198 (FAX)