a life sciences and diagnostics company that develops and commercializes proprietary technologies and products for advanced microarray diagnostics, today announced that it has received approval from the TSX Venture Exchange to extend the expiry of 2,276,000 outstanding common share purchase warrants ("the Warrants") of the Company, which were issued in connection with the Company’s October 2011 private placement financing.
Each warrant, as amended, entitles the holder thereof to purchase one common share of the Company at a price of $2.50 per common share at any time until the close of business on October 25, 2016, provided that if on any day that is 12 months following October 26, 2011 the 20-day volume weighted average trading price of the Common Shares on the TSX Venture Exchange equals or exceeds $3.25, then upon the Corporation sending the Holder written notice of such date and issuing a news release announcing such date, the Warrants shall only be exercisable for a period of 30 days following the date on which such written notice is sent to the Holder.
About SQI Diagnostics
SQI Diagnostics is a life sciences and diagnostics company that develops and commercializes proprietary technologies and products for advanced microarray diagnostics. The Company's proprietary microarray tests and fully-automated systems are designed to simplify protein and antibody testing workflow, increase throughput, reduce costs and provide excellent data quality. For more information, please visit www.sqidiagnostics.com.
Sales and Marketing ContactRuss Peloquin
Vice President, Global Commercial Operations
Investor Relations ContactAndrew Morris
Chief Executive Officer
416.674.9500 ext. 229
This press release contains certain forward-looking statements, including, without limitation, statements containing the words "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect", "believe", "in the process", "benefits", "leading to", "possible" "is subject to" and other similar expressions which constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking statements reflect the Company's current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to: the ability of our patents to adequately protect our rights or permit us to gain or keep any competitive advantage; our ability to market and sell our novel multiplexing technologies and detection platforms; our ability to maintain any technical or product advantages; our ability to continue to market and sell our products; potential supply problems or price fluctuations with sole source or other third-party suppliers on which SQI is dependent; SQI's ability to increase customer orders and manufacturing volumes; adverse changes in general economic conditions; impact of healthcare reform legislation; and, SQI's ability to raise additional funds in the future on acceptable terms or at all. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company's ongoing filings with the securities regulatory authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.
Neither 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.