Gemoscan Canada, Inc. Announces Issuance of Shares for Debt
TORONTO, April 19, 2013 (GLOBE NEWSWIRE) -- Gemoscan Canada, Inc. ("Gemoscan"
or the "Corporation") – (TSX-V:GES) (MUN:1GE) wishes to announce that it has
entered into a shares-for-debt agreement totaling $15,000, with an
arm's-length party with regard to outstanding consulting fees and proposes to
settle the debt through the issuance of 157,894 Class A Shares (the "Shares")
of the Corporation at a deemed price of $0.095, subject to the approval of the
TSX Venture Exchange. The Shares issued will be subject to a
4-month-plus-1-day hold period from the date of issuance.
This shares for debt settlement, and subsequent issuance of the Shares, will
not create a new Control Person.
About Gemoscan Canada, Inc.
Gemoscan is an industry leader in food intolerance management and maintains a
first-to- market position with Canada wide distribution through select retail
partners. Founded in 2003, using its proprietary patented technology, Gemoscan
develops, owns and markets comprehensive food sensitivity and dietary
management solutions for consumers, including the HEMOCODE™ Food Intolerance
System and the MenuWise™ Food Intolerance Plan, personalized naturopathically
supervised nutritional programs that promote well-being. Gemoscan is the first
and only provider to commercialize a food intolerance management solution
directly to consumers in partnership with retailers, and today offers the most
comprehensive services available.
Gemoscan Canada, Inc. trades its shares on the Toronto Venture Exchange under
the symbol GES and is quoted on the Munich, Frankfurt and Stuttgart Stock
Exchanges under the symbol 1GE.
This news release contains certain "forward-looking information". All
statements, other than statements of historical fact that address activities,
events or developments that Gemoscan believes, expects or anticipates will or
may occur in the future. These forward-looking statements reflect the current
expectations or beliefs of Gemoscan based on information currently available
to Gemoscan. Forward- looking statements are subject to a number of signify
cant risks and uncertainties and other factors that may cause the actual
results of Gemoscan to differ materially from those discussed in the forward-
looking statements, and even if such actual results are realized or
substantially realized, there can be no assurance that they will have the
expected consequences to, or effects on Gemoscan. Any forward-looking
statement speaks only as of the date on which it is made and, except as may be
required by applicable securities laws, Gemoscan disclaims any intent or
obligation to update any forward- looking statement, whether as a result of
new information, future events or results or otherwise. Although Gemoscan
believes that the assumptions inherent in the forward-looking statements are
reasonable, forward-looking statements are not guarantees of future
performance and accordingly undue reliance should not be put on such
statements due to the inherent uncertainty therein.
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 release.
Chief Executive Officer
Gemoscan Canada, Inc.
Kilmer Lucas Inc.
T: (416) 833-9317
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