Royal Lifescience Corp. Announces a Reinstatement to Trading on NEX
1870 – 400 Burrard Street Vancouver, British Columbia V6B 3K1
ROYAL LIFESCIENCE CORP. ANNOUNCES A REINSTATEMENT TO TRADING ON NEX
July 28, 2014 TSX Venture Exchange Trading Symbol: RLS.P
Vancouver, British Columbia – Royal Lifescience Corp. (the “Company”), a capital pool company pursuant to Policy 2.4 of the TSX Venture Exchange (the “TSXV”), announces that it has applied for the transfer of the listing of its common shares to the NEX board of the TSXV due to its failure to complete a Qualifying Transaction within the time period allotted by the TSXV.
In connection with the transfer to NEX, an aggregate of 1,000,000 seed shares of the Company held in escrow by certain non-arm's length parties have been cancelled in accordance with the policies of the TSXV.
The Company obtained the requisite shareholder approval for both the transfer to NEX and the cancelling of certain escrow shares at its annual and special meeting of its shareholders held on July 9, 2014.
The Company’s listing will transfer to the NEX under the trading symbol RLS.H. The Company’s tier classification will change from Tier 2 to NEX. The TSXV has advised that soon after the dissemination of this news release that the transfer to NEX and reinstatement to trading will occur when it issues a TSXV bulletin.
The Company intends to continue to pursue potential Qualifying Transaction opportunities while listed on the NEX. The Company remains available for discussions, open to negotiations and welcomes contact from any parties wishing to pursue a transaction which would result in the Company completing a Qualifying Transaction and satisfying TSXV listing requirements.
On behalf of the Board of Directors
“Craig D. Thomas”
Craig D. Thomas Chief Executive Officer, Chief Financial Officer, Director
For further information please contact:
Craig D. Thomas Telephone: (604) 688-6775
Neither the TSX Venture Exchange not 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 release.
Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding the Company’s transfer of its common shares on the NEX and reinstatement to trading. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur, or if they do occur, what benefits the Company will obtain from them.