Business
Marvel Biosciences Announces Letter Agreement for Market Stabilization and Liquidity Services
Calgary, Alberta--(Newsfile Corp. - December 23, 2022) - Marvel Biosciences Inc. (TSXV: MRVL) and its wholly owned subsidiary, Marvel Biotechnology Inc.
About this update from Liquidity Services, Inc.
[{"type":"text","content":"Calgary, Alberta--(Newsfile Corp. - December 23, 2022) - Marvel Biosciences Inc. (TSXV: MRVL) and its wholly owned subsidiary, Marvel Biotechnology Inc. (collectively the \"Company\" or \"Marvel\"), is pleased to announce that it has entered into a Letter Agreement for Market Stabilization and Liquidity Services (the \"Consulting Agreement\") with Mr. Adam Smith of Red Cloud Securities Inc. (\"Red Cloud\") to support Marvel's market stabilization and liquidity activities.\nMarvel entered into the Consulting Agreement with Red Cloud effective December 1, 2022, with a first term of a three-month period, from December 1, 2022 to February 28, 2023. The Consulting Agreement will be automatically renewed unless terminated by either party with no less than thirty (30) days' notice.\nPursuant to the Consulting Agreement, Red Cloud will: (i) use its best efforts to maintain a reasonable and consistent bid and offer spread for Marvel's common stock for the majority of the daily trading hours; (ii) use its best efforts to maintain a reasonable board lot size for the bid an the offer, of Marvel's common stock listed on the TSX Venture Exchange (\"TSXV\") for the majority of the daily trading hours; and (iii) supply liquidity as needed (together the \"Services\"). Red Cloud will receive $5,000 per month for provision of the Services.\nRed Cloud does not have any interest, directly or indirectly, in Marvel or its securities, or any right or intent to acquire such an interest. The Consulting Agreement remains subject to regulatory acceptance of applicable filings with the TSXV.\nContact Information\nInvestor Relations: \nVirtus Advisory Group\nTel: 416-644-5081\nEmail: [email protected] \nMarvel Biosciences Corp.Roderick (Rod) Matheson, Chief Executive Officer or Dr. Mark Williams, President, and Chief Science Officer\nTel: 403 770 2469\nEmail: [email protected]\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.\nAll information contained in this news release with respect to the Company and its subsidiary, (collectively, the \"Parties\") were supplied by Marvel, respectively, for inclusion herein and each parties' directors and officers have relied on each other for any information ...