The Jenex Corporation Announces Conditional Acceptance of Reactivation from NEX to TSX Venture Exchange, TherOZap(TM) Testing and ISO 13485:2003 Update
Toronto, Ontario--(Newsfile Corp. - August 17, 2017) - The Jenex Corporation (NEX: JEN.H) ("Jenex" or the "Company"), a progressive medical device technology company, today announces that it has obtained the conditional acceptance of the TSX Venture Exchange (the "Exchange" or "TSXV") in respect of its application for reactivation to the TSXV as a Tier 2 Life Science Issuer (the "Graduation"). The Graduation is conditional upon satisfaction of the following conditions on or before November 15, 2017:
- Exchange final acceptance for and completion of the proposed private placement to raise gross proceeds of $317,500 by issuing 6,350,000 units at $0.05 per unit; and
- Exchange final acceptance for and completion of the proposed $800,432 debt settlement by issuing 16,008,634 common shares at $0.05 per share, subject to requisite disinterested shareholder approval.
Board of Directors' Recommendation
The board of directors of Jenex has determined that the Graduation is in the best interests of its shareholders, and has unanimously approved the Graduation.
Jenex Passes Renewal Audit for ISO 13485:2003 Medical Device Certification
Jenex has successfully passed the renewal audit for ISO 13485:2003 medical device certification. The audit was conducted by SGS North America - the world's leading inspection, verification, testing and certification company recognized as the global benchmark for quality and integrity.
ISO 13485 is designed to be used by organizations throughout the life cycle of a medical device, from initial conception to production and post-production, including final decommission and disposal. It also covers aspects such as storage, distribution, installation and servicing, and the provision of associated services. In addition, the standard can be used by other internal and external parties, such as certification bodies, to help them with their certification processes, or by supply chain organizations that are required by contract to conform. ISO 13485 helps an organization design a quality management system that establishes and maintains the effectiveness of its processes. It reflects a strong commitment to continual improvement and gives customers confidence in its ability to bring safe and effective products to market.
Additional Insider Participation in Jenex
Jenex would like to report that Mr. Rob Fia, Chief Executive Officer of the Company, John Gamble, a director of the Company, and other close associates thereof have purchased an aggregate of 2,347,000 common shares under escrow of the Company.
Update on testing TherOZap™ against Zika with Techna Institute at UHN
Jenex would like to report that laboratory testing is moving forward with the Techna Institute at UHN. The Company has received several requests from shareholders for an update, which will be provided to all shareholders upon completion of the tests and when results are available. Due to summer holidays, the Company expects to report back to shareholders during the month of September.
Mr. Rob Fia, CEO, commented:
"We are pleased to reactivate Jenex on the TSX Venture Exchange, which underscores our commitment to creating value for our shareholders by broadening distribution in our shares and creating greater liquidity for shareholders. As the Company further develops its platform technology, it will create better financing opportunities for the Company by having its shares listed on a high-quality exchange such as the TSX Venture Exchange."
"Jenex is committed to meeting industry highest quality requirements and passing ISO 13485:2003 certification reconfirms Jenex's relentless dedication to quality and customer satisfaction. We will continue to invest significant effort and resources to ensure world-class quality control systems to deliver high quality products that our customers have come to expect from us."
Jenex is a progressive medical device technology company focused on providing consumers with quality medical devices that address their dermatological needs. Clear and healthy skin for all is at the core of Jenex's philosophy as is the belief that such outcomes should not be a privilege for only those who can afford costly procedures and treatments. The Company's breakthrough proprietary technology delivers effective, non-invasive and pain free skin care.
Jenex received a Class II medical device status from the FDA for its platform technology that is indicated for the relief of the pain, itch, and inflammation from over 20,000 different insect stings and bites, (including bees, wasps, hornets, mosquitoes, black flies and jellyfish). Jenex received approval for the above claims from FDA (United States) in 1997.
About Techna Institute:
Techna is an institute of the University Health Network, in collaboration with the University of Toronto, focused on the accelerated development and exploitation of technology for improved health. Techna is designed to shorten the time interval from technology discovery and development to application for the benefit of patients and the health care system. It also stimulates and facilitates the innovation cycle through a continuum of clinically driven innovation, technology & process development, and translational research. For more information visit: technainstitute.com
About University Health Network:
University Health Network (UHN) is a major landmark in Canada's healthcare system and a teaching partner of the University of Toronto. UHN consists of Toronto General and Toronto Western Hospitals, the Princess Margaret Cancer Centre, Toronto Rehabilitation Institute and the Michener Institute for Education at UHN. The scope of research and complexity of cases at University Health Network has made it a national and international source for discovery, education and patient care. It has the largest hospital-based research program in Canada, with major research in cardiology, transplantation, neurosciences, oncology, surgical innovation, infectious diseases, genomic medicine and rehabilitation medicine. For more information visit: www.uhn.ca
FORWARD LOOKING STATEMENTS
Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or the Company's future performance and include a financing, debt settlement and laboratory tests involving TherOZap™, as described in the news release. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. In addition to other risks, the Company may not complete the commercialization or marketing of its products as described in this news or attract capital in the future. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and 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 regulations.
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.
For further information please contact:
The Jenex Corporation
CEO & Chairman
NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES