CerMed International Inc.
CerMed International Inc.: CerMed International announces a Board of Directors’ Action
CerMed International Inc. / Key word(s): Miscellaneous
FOR IMMEDIATE RELEASE CONTACT CerMed International announces a Board of Directors’ Action Monterey, CA – July 18, 2011 – CerMed International, a women’s healthcare medical device company, today announced a decision of the Board of Directors to resolve an electronic shares situation that is negatively impacting the Company’s share price. A portion of cancelled shares that are in electronic format are still being sold into the market even though they have been cancelled, and the Board of Directors has approved the following actions taken by the Company based on advice of our financial advisors and legal counsel. CerMed has sought and obtained shareholder approval for a reverse stock split, which will be followed by a stock dividend to shareholders in good standing. The net result of this action is that (i) all shareholders of record and in good standing as of July 13, 2011 will receive the exact number of new shares that were originally held, and (ii) the unauthorized cancelled electronic shares will be eliminated. CerMed will immediately file the appropriate documents in Canada and Germany to finalize implementation of the reverse stock split. CerMed will also take this opportunity to change its stock trading symbol to ‘CERM’ or similar, to reflect the Company’s name and corporate identity. Additional details about the effective date of the Company’s new stock symbol and other related data will be set forth in a press release promptly after such items are completed. CerMed International, Inc. is an emerging global medical device company that develops products and systems that help improve the health of women worldwide. These lower cost products will aid in reducing the risk of female reproductive diseases. They will enable women’s health initiatives to be brought to the underserved regions of the world and empower women to personally take steps to reduce the risk of HIV and other STD’s. Forward Looking Statements Related to CerMed International This press release contains forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results or experience to differ materially from that expressed or implied by the forward-looking statements. Some of these risks and uncertainties include, but are not limited to, (1) the economic circumstances surrounding CerMed’s business, including general economic conditions worldwide; (2) competitive pressures and developments; (3) applicable laws and regulations; (4) the success or failure of product development programs; (5) actions of regulatory authorities and the timing thereof; (6) changes in exchange rates; (7) claims or concerns regarding the safety or efficacy of marketed products or product candidates in development; and (8) integration activities with acquired companies. The forward-looking statements contained in this press release speak only as of the date of this press release, and CerMed undertakes no obligation to revise or update any forward-looking statements to reflect new information, future events or circumstances after the date of the forward-looking statement. If CerMed does update or correct one or more of these statements, investors and others should not conclude that CerMed will make additional updates or corrections For information: http://www.cermedint.com End of Corporate News 19.07.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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