Advitech consolidates its common shares as part of the merger of its operations with Botaneco
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Consolidation of Common Shares
The Consolidation was approved by shareholders at the Corporation's special meeting of shareholders held on
Letters of transmittal with respect to the Consolidation were mailed to all of the Corporation's registered shareholders on
Further details of the Consolidation, and the reasons therefore, are contained in the management information circular of the Corporation dated
Further details of the Transaction, the Equity Financing and the Redemption of the AgeChem Warrants and the reasons therefore, are contained in a press release of the Corporation dated
About Advitech --------------
Advitech is a health sciences and technology company with a mission to discover and commercialize proprietary and evidence-based natural health products. Effective and safe, these products play a role in the prevention of immune-mediated inflammatory disorders, such as psoriasis and inflammatory bowel disease. Advitech produces Dermylex(R) for the treatment of mild-to-moderate psoriasis. Advitech has drawn up a research program to develop new applications related to wound healing. This development is derived from both its XP-828L and IM technological platforms. More information is available and can be accessed at http://www.advitech.com/.
About Botaneco Specialty Ingredients Inc. -----------------------------------------
Botaneco is the global developer and marketer of innovative Oleosome-based ingredients to the personal care and OTC topical markets. As a technologically driven provider of high performance, proprietary Oleosome-based ingredients, Botaneco is committed to developing innovative ingredients that offer multifunctional, tangible and documented benefits to both formulators and consumers. Botaneco's head office and manufacturing facility is located in
About AgeChem -------------
The AgeChem Venture Fund L.P. is currently investing in companies developing therapeutics targeting age-related diseases. The range of diseases and chronic conditions associated with aging provides a breadth of attractive investment opportunities. AgeChem's principals have been active in the healthcare sector for over 15 years having made investments in several private and public entities. In addition to AgeChem, some of the principals are also managing the GeneChem Technologies Venture Fund L.P. and the GeneChemTherapeutics Venture Fund L.P. (http://www.genechem.com/).
About Avrio -----------
Avrio Ventures Limited Partnership is one of Canada's leading venture capital funds focused on investing in commercialization to growth stage companies developing food and/or agricultural technologies that address global challenges in the areas of health, wellness and sustainability. Avrio's portfolio includes a number of investments in the food processing, natural personal care and natural industrial products sectors. Avrio is a limited partnership created under the laws of Ontario, which is managed by its general partner, Avrio Ventures General Partner Ltd. The Avrio team also manages FCC Ventures, a fund focused on the agricultural sector. For more information about Avrio, visit http://www.avrioventures.com/.
About SemBioSys ---------------
SemBioSys, a corporation incorporated under the laws of
This press release contains forward-looking statements, which reflect the Corporation's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. 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.
%SEDAR: 00021006EFFor further information: Christian Labbé, Vice-President and Chief Financial Officer, Advitech Inc., (418) 686-7498, ext. 227