The Jenex Corporation Announces Graduation to the TSX Venture, Update on Chinese Global Financial Forum and Proposed Acquisition
Toronto, Ontario--(Newsfile Corp. - December 12, 2017) - The Jenex Corporation (NEX: JEN.H) (TSXV: JEN) ("Jenex" or the "Company"), a progressive medical device technology company, today announces that the Company has met the requirements to be listed as a TSX Venture Tier 2 Company. Effective December 13, 2017, the Company's listing will transfer from NEX to TSX Venture, the Company's Tier classification will change from NEX to Tier 2 and the filing and service office will change from NEX to Toronto. Effective at the opening, December 13, 2017, the trading symbol for the Company will change from JEN.H to JEN.
On December 7th, 2017, Jenex presented its InterceptCS™ technology for cold sores and its TherOZap™ technology, currently being tested to inactivate the Zika virus, at the Chinese Global Financial Forum along with the proposed medical device target acquisitions for acne and other cosmetic applications. The conference took place in Shenzhen, China, a city with a population of 11.91M, which many consider the 'Silicon Valley' of China. Jenex presented to Chinese funds, enterprises and other large-scale investors that have focused on outbound investments, trade sales and licensing deals as their strategic focus. In addition, Jenex was interviewed by a local TV network.
Immediately following the presentation Jenex was approached by several entities to fund, market, distribute and manufacture its products for the Chinese marketplace. As a result of the strong interest in Jenex's products and given the size and scope of China's consumer market and demand for cosmetic based medical device solutions, the Company believes its products are ideal to market and sell to the Chinese marketplace. Jenex will aggressively pursue market opportunities in China for its inventory of InterceptCS™ technology and near-term commercialization of the TherOZap™ technology, and proposed acquisition products in acne and other cosmetic applications.
As previously reported on November 2nd, 2017, relating to the Proposed Acquisition for acne and other cosmetic applications, Jenex has agreed with the vendor of the Target Acquisitions to extend the execution of a definitive share purchase agreement to an anticipated closing date of February 15th, 2018. The Proposed Acquisition will be subject to customary due diligence which has been extended to January 15th, 2018.
Rob Fia, CEO commented:
"We are extremely pleased to achieve a number of milestones during 2017 but especially pleased to receive approval to graduate to the TSX Venture Exchange. The TSX Venture Exchange is respected worldwide as premier market for junior issuers. The graduation will increase opportunities for the Company to increase liquidity for trading in its common shares as well as open new channels for financing previously not available to the Company.
Jenex sees attractive sales opportunities for its existing product line and acquisition products for the Chinese marketplace. We expect to report further updates in the near future along with the final test results from our Zika testing with our TherOZap™ technology."
The Company reports that Mr. John Gamble has resigned from the Board to pursue other business interests. The Board would like to thank Mr. Gamble for his past service. Mr. Tak Wing Law, CFO, has been appointed as a temporary director of the Company.
For further information please contact:
The Jenex Corporation
Rob Fia, CEO
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.
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, an increase in liquidity for the Company's common shares or financing channels after graduation to the TSXV, the completion of the Proposed Acquisition, laboratory tests involving the TherOZap™ technology, China's investments trends and China's consumer market demands and demand for Jenex products and acquisition products and investor interest in Jenex from China, all 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 increase liquidity for its common shares or increase financing channels after graduation to the TSXV, complete the Proposed Acquisition or laboratory tests involving TherOZap™ technology, or commercialize or market its products or attract investor interest in China or elsewhere as described in this news on the timelines described. 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.
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