Securities Commissions Revoke Cease Trade Orders for The Jenex Corporation
Toronto, Ontario--(Newsfile Corp. - January 22, 2014) - The Jenex Corporation (TSXV: JEN.H) ("Jenex" or the "Company") - Jenex is please to announce that it has obtained a full revocation of the cease trade orders (the "Cease Trade Orders") that were issued by the Alberta Securities Commission, the British Columbia Securities Commission and the Ontario Securities Commission in December 2009. The Cease Trade Orders were issued as a result of the Company's failure to file financial statements and related MD&A and officer certifications under National Instrument 52-109. Jenex has filed financial statements for the years ended July 31, 2012 and July 31, 2013 and for the interim periods ended October 31. 2012, January 31, 2013, April 30, 2013 and October 31, 2013, together with the MD&A and officer certifications under National Instrument 52-109 for each of those financial statements. Jenex will continue to file its financial statements, MD&A and other continuous disclosure documents on time as required by securities law.
The Company owns a proprietary thermal therapy technology that provides topical relief to certain skin irritations resulting from insect bites, stings and the prevention of cold sores.
The Company is devoted to developing and marketing this technology. Since inception, the Company has invested over $7 million to acquire patents and trademarks, complete research and development, and to develop and design the products including a device designed specifically for insect bite relief and a cold sore prevention device. These products are sold over-the-counter without a doctor's prescription. The Company is reviewing a number of product opportunities leveraging its current technology to broader and faster growing areas of the health, beauty and skincare market.
Due to the Company having been cease traded since 2009, with limited capital resources, the Company has embarked on a full review of its intellectual property. Once the review is complete, the Company's management will decide which products and markets are the most attractive for the Company to pursue further. The Company intends to protect its intellectual property and actively pursue marketing channels for its products.
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements. More particularly, this press release contains statements which include the developing and marketing of the Company's technology, the product opportunities to leverage the Company's technology to broader and faster growing areas of the health, beauty and skincare market and the review of the Company's intellectual property. The forward-looking statements are based on certain expectations and assumptions made by the Company. Although The Company believes that those expectations and assumptions are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those anticipated due to a number of factors and risks. In addition to other risks, the Company's ability to develop and market its technology, to leverage its technology into broader and faster growing markets and the review of its intellectual property will depend on the Company's ability to raise additional capital. The forward-looking statements contained in this press release are made as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
Neither the 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 press release.
|Rob Fia, Chairman||Peter Shippen, CEO|