MetaStat Shareholders Approve Reverse Stock Split

MetaStat (OTCQB:MTST) today announced shareholders voted in favor of a reverse stock split of the company’s common stock and an amendment to the company’s Amended and Restated 2012 Omnibus Securities and Incentive Plan at a special shareholders meeting held in New York City on June 22, 2015.

Previously, the company’s board of directors had voted, subject to shareholder approval, to authorize a reverse stock split for the purpose of qualifying for the minimum stock price listing requirement for a planned uplisting to a national securities exchange, such as The NASDAQ Capital Market or NYSE Market. Yesterday’s vote authorizes the board to effect a reverse stock split of the company’s outstanding common stock by a ratio of not less than 1-for-5 and not more than 1-for-15, with the exact ratio to be determined by the board at the appropriate time.

Douglas Hamilton, President and CEO of MetaStat, said, “With the approval of the reverse stock split and amendment to the Securities and Incentive Plan by the board and shareholders, MetaStat has taken the significant steps to further strengthen and grow the company. Uplisting to a national securities exchange will enhance MetaStat’s visibility and remove investment restrictions to allow for greater liquidity and a broader institutional and retail investor base. We believe the amendment to our Securities and Incentive Plan will allow us to recruit and retain the best talent to help build the company as we commence our commercialization strategy.”

The board has until June 22, 2016 to effect the reverse split.

About MetaStat, Inc.

MetaStat, Inc. (MTST) is a molecular diagnostic company that develops and commercializes diagnostic tests for early and reliable prediction of systemic metastasis, the process by which cancer spreads from a primary tumor through the bloodstream to other areas of the body. MetaStat is focused on breast, prostate, lung and colorectal cancers, where systemic metastasis is responsible for approximately 90% of all deaths. The company's function-based diagnostic platform technology is based on the identification and understanding of the pivotal role of the mena protein and its isoforms, a common pathway for the development of systemic metastatic disease in all epithelial-based solid tumors. Both the MetaSite Breast™ and MenaCalc™ assays are designed to accurately stratify patients based on their individual risk of metastasis and to provide physicians with clinically actionable information to better "customize" cancer treatment. MetaStat's testing platform improves treatment planning decisions by positively identifying patients with a high-risk of metastasis who need aggressive therapy and by sparing patients with a low-risk of metastasis from the harmful side effects and expense of chemotherapy. The company is based in Boston, MA.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events or results to differ materially from those projected in the forward-looking statements as a result of various factors and other risks, including those set forth in the company's Form 10-K filed with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and the company undertakes no obligation to update such statements.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150623005721/en/