LexaGene Announces Management Cease Trade Order
01 July 2022 - 7:32AM
LexaGene Holdings, Inc., (OTCQB: LXXGF; TSX-V: LXG)
(“LexaGene” or the “Company”) announces, further to its news
release on June 28, 2022, the Company has been granted a management
cease trade order (“
MCTO”) under National Policy
12-203 – Management Cease Trade Orders (“
NP
12-203”) imposed against certain insiders of the Company,
precluding them from trading securities of the Company. The MCTO
will be in effect until the Company’s annual financial statements
for the year ended February 28, 2022, its related management’s
discussion and analysis and CEO and CFO certifications
(collectively, the “
Annual Canadian Financial
Filings”) are filed on or before August 29, 2022.
The Company is working on the audit and related
procedures required to complete the Annual Canadian Financial
Filings, and expects to be able to file the Annual Canadian
Financial Filings within the next five to six weeks. The Company
will provide updates as further information relating to the Annual
Canadian Financial Filings becomes available.
The Company confirms that it will satisfy the
provisions of the alternative information guidelines under NP
12-203 by issuing bi-weekly default status reports in the form of
news releases for so long as it remains in default of the
above-noted filing requirements.
The Company confirms that there is no other
material information relating to its affairs that has not been
generally disclosed.
Other than as disclosed herein, the Company is
up to date in its filing obligations.
To learn more about LexaGene and the MiQLab
System or subscribe to company updates, visit www.lexagene.com, or
follow us on Twitter or LinkedIn.
For inquiries: 800.215.1824 | ir@lexagene.com or
info@lexagene.com
On Behalf of the Board of
Directors Dr. Jack Regan Chief
Executive Officer & Chairman
Investors:
ir@lexagene.com800.215.1824
About LexaGene Holdings Inc.
LexaGene is a molecular diagnostics company that
develops molecular diagnostic systems for pathogen detection and
genetic testing for other molecular markers for on-site rapid
testing in veterinary diagnostics, food safety and for use in
open-access markets such as clinical research, agricultural
testing, and biodefense. End-users simply need to collect a sample,
load it onto the instrument with a sample preparation cartridge,
enter sample ID and press ‘go’. The MiQLab™ system delivers
excellent sensitivity, specificity, and breadth of detection and
can return results in approximately two hours. The unique open
access feature is designed for custom testing so that end-users can
load their own real-time PCR assays onto the instrument to target
any genetic target of interest.
The TSX Venture Exchange Inc. has in no way
passed upon the merits of the proposed transaction and has neither
approved nor disapproved the contents of this press release.
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.
This news release contains forward-looking
information, which involves known and unknown risks, uncertainties
and other factors that may cause actual events to differ materially
from current expectation. Important factors -- including the
availability of funds, the results of financing efforts, the
success of technology development efforts, the cost to procure
critical parts, performance of the instrument, market acceptance of
the technology, regulatory acceptance, and licensing issues -- that
could cause actual results to differ materially from the Company's
expectations as disclosed in the Company's documents filed from
time to time on SEDAR (see www.sedar.com). Readers are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date of this press release. The company
disclaims any intention or obligation, except to the extent
required by law, to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
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