LexaGene Provides MCTO Update
12 July 2022 - 10:00PM
LexaGene Holdings, Inc., (OTCQB: LXXGF; TSX-V: LXG)
(“LexaGene” or the “Company”), a molecular diagnostics company that
has commercialized the MiQLab® System for automated PCR-based
syndromic testing in veterinary clinics, provides an update
regarding the previously announced management cease trade order
(the “MCTO”) voluntarily requested by the Company and issued by the
British Columbia Securities Commission on June 30, 2022 in
connection with the Company’s annual financial filings (the “Annual
Financial Filings”).
The Company's staff and audit team continue to
make progress and are proceeding without any known material issue.
The Company expects that the Annual Financial Filings will be filed
by no later than August 29, 2022.
The Company is providing this status update in
accordance with National Policy 12-203 - Management Cease Trade
Orders (“NP 12-203”). The Company reports that: (i) there are no
changes to the information contained in its default announcement on
June 28, 2022, that would reasonably be expected to be material to
an investor; (ii) the Company is satisfying and confirms that it
intends to continue to satisfy the provisions of the alternative
information guidelines set out under NP 12-203 and issue bi-weekly
default status reports for so long as the delay in filing the
Annual Financial Filings is continuing, which will be issued in the
form of a news release; (iii) there has not been any other
specified default by the Company under NP 12-203 and no such other
default is anticipated; and (iv) there is no material information
concerning the affairs of the Company that has not been generally
disclosed.
The MCTO relates to trading of securities of the
Company by the Chief Executive Officer and Chief Financial Officer
of the Company. All other security holders continue to be able to
trade in the securities of the Company in accordance with
applicable securities laws.
On Behalf of the Board of DirectorsDr.
Jack ReganChief Executive Officer &
Chairman
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.
About LexaGene Holdings
Inc. LexaGene
is a molecular diagnostics company that has commercialized the
MiQLab® System for fast and easy detection of pathogens and other
molecular markers. The System is PCR-based, screens for 24 targets
at once, and designed for on-site usage. Our customers include
veterinary hospitals and reference laboratories – as well as
contract biologic manufacturers. The MiQLab® System delivers
excellent sensitivity, specificity, and breadth of detection and
returns results in approximately two hours. The MiQLab System is
also open-access, which allows end-users to load their own PCR
assays onto the System 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.
For inquiries: 800.215.1824 | ir@lexagene.com or info@lexagene.com
Lexagene (TSXV:LXG)
Historical Stock Chart
From Mar 2024 to Apr 2024
Lexagene (TSXV:LXG)
Historical Stock Chart
From Apr 2023 to Apr 2024