BioMS Medical Reports Spectral Investment
Toronto Stock Exchange Symbol: MS
EDMONTON, March 3 /CNW/ - BioMS Medical Corp. (TSX: MS) acquired pursuant to a private placement of units, beneficial ownership and control over 30,000,000 common shares and 15,000,000 common shares purchase warrants of Spectral Diagnostics Inc. ("Spectral"). The 30,000,000 common shares represent 39.57% of the issued and outstanding common shares of Spectral and the warrants represent 61.5% of the warrants issued in the private placement. Assuming BioMS exercises the warrants and acquires an additional 15,000,000 common shares of Spectral, it would hold 45,000,000 common shares representing 49.55% of the partially diluted issued and outstanding common shares of Spectral. The units were acquired at a price of $0.40 per unit.
BioMS acquired the securities for investment purposes and has no present intention to acquire further securities of Spectral, although BioMS may in the future acquire or dispose of securities of Spectral, through the market, privately or otherwise, as circumstances or market conditions warrant.
About BioMS Medical Corp.
BioMS Medical is a biotechnology company engaged in the investment, development and commercialization of pharmaceutical technologies. For further information please visit our website at http://www.biomsmedical.com
This press release may contain forward-looking statements, which reflect the Corporation's current expectation regarding future events. These forward-looking statements involve risks and uncertainties that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, changing market conditions, the successful and timely completion of clinical studies, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process and other risks detailed from time to time in the Corporation's ongoing quarterly and annual reporting. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.For further information: and to obtain a copy of the Early Warning Report filed by BioMS pursuant to National Instrument 62-103, please contact: Tony Hesby, Ryan Giese, BioMS Medical Corp., (780) 413-7152, (780) 408-3040 Fax, E-mail: email@example.com, Internet: http://www.biomsmedical.com; James Smith, Investor Relations, (416) 815-0700 ext. 229, (416) 815-0080 Fax, E-mail: firstname.lastname@example.org