7
May 2024
Argent BioPharma
Ltd.
Argent BioPharma Commences
Trading on the OTCQB Venture Market and Appoints
CFO
Argent BioPharma Ltd. (Argent BioPharma or the Company), is pleased to announce that
its ordinary shares have been approved to trade on the OTCQB
Venture Market (OTCQB) in
the United States (the U.S.) and commenced trading at the
market open on 2 May 2024 under the ticker MGCLF. The Company is in
the process of applying to have its symbol changed.
The cross-trading of the Company's
ordinary shares on the OTCQB may provide enhanced investor
benefits, including easier trading access for certain investors
located in the U.S. and greater liquidity due to a broader
geographic pool of potential investors. Through trading on the
OTCQB, the Company will be able to engage with a wide network of
U.S. investors, data distributors and media partners, ensuring that
U.S. investors have access to the same level of information and
disclosure that is available to investors in Australia, but through
U.S. facing platforms and portals. In addition, the OTCQB
cross-trading facility will provide U.S. based investors with the
ability to access Argent BioPharma's ordinary shares in U.S.
dollars during U.S. market hours.
The ability to trade in the
Company's existing ordinary shares on the ASX will not be affected
by having the OTCQB facility and no new ordinary shares have been
issued. Argent BioPharma will continue to make announcements and
disclosures to the Australian Securities Exchange through the
Market Operating Rules and Listing Rule requirements.
The OTCQB is a leading market for
U.S. and international companies in the entrepreneurial and
development stage. To be eligible, companies must be current in
their financial reporting, pass a minimum bid price test, and
undergo an annual company verification and management certification
process. As a verified market with efficient access to U.S.
investors, OTCQB helps companies build shareholder value with a
goal of enhancing liquidity and achieving a fair
valuation.
Additionally, the Company is pleased
to announce the appointment of Mr Igor Bluvstein as Chief Financial
Officer. Mr. Bluvstein has over 15 years of financial leadership
positions in the e-commerce, biotechnology, petrochemical, and
medical cannabis industries. He served as the CFO at MDD Group, as
Regional CFO at Frutarom Industries Ltd. (acquired by International
Flavors & Fragrances Inc. (NYSE: IFF), as the CFO of an
e-commerce retailer, as a Financial Controller at Mirland
Development Corporation PLC, and as a senior auditor at Ernst &
Young Global Ltd. Mr. Bluvstein holds a Bachelor of Arts in
accounting and economics from the Open University in Israel. He is
also a Certified Public Accountant (CPA).
Roby Zomer, Managing Director and CEO of Argent BioPharma,
commented: "We are pleased to
commence trading of Argent BioPharma's shares on the OTCQB, marking
another step forward of rapid progress for the Company".
"Cross-trading on the OTCQB will
increase liquidity and significantly enhance the ability of U.S.
based investors to access and trade Argent BioPharma's shares
during a period in which we are actively progressing our key drug
developments".
"Trading on OTCQB will also, we
believe, serve to diversify the share register and increase
exposure to a broader range of investors".
"I'm also delighted we have been
able to appoint someone of Igor's expertise as the Company's CFO,
we are all very much looking forward to working with
him".
-Ends-
Authorised for release by the board of directors, for further
information please contact:
About Argent
BioPharma
Argent BioPharma is dedicated to
meeting unmet medical needs by combining PolyPharmacology and
Nanotechnology, aspiring to be a renowned global leader in the
biopharmaceutical sector. Our mission centres on researching and
developing ground-breaking treatments for worldwide health issues,
guided by strategic principles such as pioneering life science
advancements, ensuring global access, fostering continuous
innovation, and striving for industry leadership.
