HOUSTON, TX--(Marketwired - Aug 27, 2014) - Northstar Healthcare Inc. ("Northstar" or the "Company") (
"The plan of the Company is to dual list our common shares on both the TSX and a national exchange in the United States," said Harry Fleming, President of Northstar. "Our goal is to significantly increase the liquidity of our common shares by adding a U.S. listing and thereby accessing the massive U.S. investment community," said Fleming.
The Company has the authority from its June 2014 shareholder meeting to affect a reverse stock split as necessary to meet the minimum listing requirements of the chosen U. S. exchange. The Company's plan is to list under a track that requires a $2 closing price. Management does not know what the stock price will be later this fall when the actual listing will take place, but Management will be conservative in a reverse split, if necessary, at that time.
The Form 10 Registration Statement includes detailed information about Northstar, including 2013 and 2012 US GAAP audited financial statements. Subsequent amendments to the Form 10 will be filed with the SEC.
Upon the effectiveness of the Registration Statement on Form 10, Northstar will be subject to the reporting requirements of the Securities Exchange Act of 1934, as amended, and as a result will file period reports and other information with the SEC. The Registration Statement on Form 10 is available on the SEC's website at www.sec.gov and on Northstar's website at www.northstar-healthcare.com.
About Northstar Healthcare Inc.
Northstar owns and manages seven healthcare facilities in Texas and Arizona; four ambulatory surgery centers, two MRI centers and an urgent care center. The four ambulatory surgery centers are located in Houston (two), Dallas and Scottsdale, Arizona.
Forward-looking statements
This news release contains forward-looking statements (within the meaning of applicable securities laws) relating to business of Northstar Healthcare Inc. (the "Company") and the environment in which it operates including the Company's plan for SEC registration and a US market listing. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future and are generally identified by words such as "believe", "anticipate", "expect", "intend", "plan", "will", "may" and other similar expressions. These statements are based on the Company's expectations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict and could cause our actual results to differ materially from those expressed or implied by the forward-looking statements. These risks and uncertainties are discussed in the Company's regulatory filings available on the Company's web site at www.Northstar-Healthcare.com or at www.sedar.com and include the risk that the Company may not achieve its SEC registration or a US market listing as planned or at all There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. Except as required by law, the Company undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances.