Business
MetaStat Announces Reverse Stock Split in Preparation for a Proposed Uplisting to a National Market
MetaStat Announces Reverse Stock Split in Preparation for a Proposed Uplisting to a National Market.
About this update from Metastat Inc
[{"type":"text","content":"\n \n MetaStat, Inc. (OTCQB:MTST), a molecular diagnostic company, today \n announced that effective 7:00 a.m. Eastern Standard Time, October 8, \n 2015, the company will implement a 1-for-15 reverse split of its common \n stock for the purpose of qualifying for the minimum stock price \n requirement for listing on a national securities exchange, such as the \n NASDAQ Capital Market or NYSE Market. The company’s common stock will \n begin trading on a post-split basis on the OTCQB under the temporary \n symbol “MTSTD” effective with the open of trading tomorrow, October 8, \n 2015.\n \n \n “This is an important step in our previously announced capital markets \n strategy to increase the liquidity and visibility of MetaStat’s common \n stock on behalf of shareholders” said Douglas A. Hamilton, President and \n Chief Executive Officer of MetaStat. “Uplisting to a national securities \n exchange will allow greater access to capital to help commercialize our \n first product offering and expand the depth and breadth of our product \n pipeline.”\n \n \n The reverse stock split was approved by MetaStat’s board of directors on \n January 29, 2015 and by the shareholders at a special shareholders \n meeting on June 22, 2015. On the effective date of the reverse split, \n every 15 shares of issued and outstanding common stock will become 1 \n share of newly issued and outstanding common stock. The reverse stock \n split will not affect any shareholder’s ownership percentage of \n MetaStat. Any fractional shares resulting from the reverse split will be \n rounded up to the nearest whole share. The company’s common stock will \n also trade under a new CUSIP number of 59140A203.\n \n \n Regulatory approval for the reverse stock split was granted by the \n Financial Industry Regulatory Authority (FINRA) on October 6, 2015. \n Shareholders should direct any questions concerning the reverse split to \n their broker or the company’s transfer agent, TranShare Corporation, \n (303) 662-1112.\n \n \n About MetaStat, Inc.\n \n \n MetaStat, Inc. (MTST) is a molecular diagnostic company that develops \n and commercializes tissue-based diagnostic tests for prediction of \n cancer metastasis, the process by which cancer spreads from a primary \n tumor through the bloodstream to oth...