Hello Jack and all:
I'm sure you saw this but for those who may have missed it...
Application to be quoted on CDN
Receptagen Ltd RCG
Shares issued 65,642,148 Apr 30 close $0.035
Mon 4 May 98 News Release
Mr. Warren Wheeler reports
Further to a news release issued by the TSE on May 1, 1998, relating to the
suspension of the trading of the company's common shares, due to failure by
the company to meet the continued listing requirements of the TSE, the
company has applied to be quoted for trading on the Canadian Dealer
Network. Receptagen is also quoted in the U.S. (OTCBB:RCEPF). Receptagen
must continue to comply with the TSE reporting requirements and has until
April 30, 1999 to seek reinstatement of trading privileges on that
exchange.
Although the first four steps of the Receptagen restructuring have been
delivered as scheduled, the failed merger with Scitech has, no doubt, been
a major and costly disappointment. The company's shareholders however, can
be assured that the management of the company and its advisers are working
diligently and around the clock to improve the situation and are confident
that a transaction can be concluded in the near future.
In order to pursue its search for a merger candidate and complete its
current obligations, Receptagen has secured a new bridge financing from
InterUnion Financial Corp. of up to $875,000 (U.S.) and approval in
principle from the TSE to amend certain terms of its outstanding warrants.
Georges Benarroch has joined the board of directors of the company,
replacing Michael O'Connor.
Receptagen is filing PCT Member Country Patent applications on its growth
blocker technology and its delivery technology associated with water
soluble CoQ10.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
Good luck
CGreen |
