Gemoscan Canada, Inc. Announces Issuance of Shares for Debt
April 19 2013 - 5:08PM
Gemoscan Canada, Inc. ("
Gemoscan" or the
"
Corporation") – (TSX-V:GES) (MUN:1GE) wishes to
announce that it has entered into a shares-for-debt agreement
totaling $15,000, with an arm's-length party with regard to
outstanding consulting fees and proposes to settle the debt through
the issuance of 157,894 Class A Shares (the
"
Shares") of the Corporation at a deemed price of
$0.095, subject to the approval of the TSX Venture Exchange. The
Shares issued will be subject to a 4-month-plus-1-day hold period
from the date of issuance.
This shares for debt settlement, and subsequent issuance of the
Shares, will not create a new Control Person.
About Gemoscan Canada, Inc.
Gemoscan is an industry leader in food intolerance management
and maintains a first-to- market position with Canada wide
distribution through select retail partners. Founded in 2003, using
its proprietary patented technology, Gemoscan develops, owns and
markets comprehensive food sensitivity and dietary management
solutions for consumers, including the HEMOCODE™ Food Intolerance
System and the MenuWise™ Food Intolerance Plan, personalized
naturopathically supervised nutritional programs that promote
well-being. Gemoscan is the first and only provider to
commercialize a food intolerance management solution directly to
consumers in partnership with retailers, and today offers the most
comprehensive services available.
Gemoscan Canada, Inc. trades its shares on the Toronto Venture
Exchange under the symbol GES and is quoted on the Munich,
Frankfurt and Stuttgart Stock Exchanges under the symbol 1GE.
Forward-Looking Information
This news release contains certain "forward-looking
information". All statements, other than statements of historical
fact that address activities, events or developments that Gemoscan
believes, expects or anticipates will or may occur in the future.
These forward-looking statements reflect the current expectations
or beliefs of Gemoscan based on information currently available to
Gemoscan. Forward- looking statements are subject to a number of
signify cant risks and uncertainties and other factors that may
cause the actual results of Gemoscan to differ materially from
those discussed in the forward- looking statements, and even if
such actual results are realized or substantially realized, there
can be no assurance that they will have the expected consequences
to, or effects on Gemoscan. Any forward-looking statement speaks
only as of the date on which it is made and, except as may be
required by applicable securities laws, Gemoscan disclaims any
intent or obligation to update any forward- looking statement,
whether as a result of new information, future events or results or
otherwise. Although Gemoscan believes that the assumptions inherent
in the forward-looking statements are reasonable, forward-looking
statements are not guarantees of future performance and accordingly
undue reliance should not be put on such statements due to the
inherent uncertainty therein.
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: Company:
Brian Kalish
Chief Executive Officer
Gemoscan Canada, Inc.
416.650.1200
bkalish@hemocode.com
www.gemoscan.com
Media:
Leonard Zehr
Kilmer Lucas Inc.
T: (416) 833-9317
leonard@kilmerlucas.com