Well, the old reverse split trick. Anybody see anything good in this? Maybe even a new name: "Response Diagnostics"?
"FOR IMMEDIATE RELEASE Canadian Venture Exchange: RBM
"RESPONSE BIOMEDICAL SEEKS SHAREHOLDER
APPROVAL FOR NEXT STEP IN FINANCING STRATEGY
"Vancouver, British Columbia, December 29, 2000 - Response Biomedical Corp. today announced that, as part of its long term financing strategy, the shareholders of the Company will be asked to approve a name change and a consolidation of the share capital at an Extraordinary General Meeting to be held on March 1, 2001. The consolidation will be on the basis of up to three old shares for one new share.
"Consolidating the outstanding share capital of the Company is an important step in the financing plan we initiated earlier this month", President and CEO Humberto Reyes stated. "We are confident that this step will facilitate
our long term financing strategy."
"As of December 29, 2000, the issued and outstanding share capital of the Company was 27,323,148 shares on an undiluted basis. Outstanding warrants and stock options raise the fully diluted share capital to 35,200,805 shares. Assuming a consolidation ratio of three to one, the issued and outstanding shares of the re-capitalized company would be 9,107,716 shares on an undiluted basis." |
