Celsion Corporation Announces Stock Consolidation

              Celsion Corporation Announces Stock Consolidation

Strategic Move to Attract a Broader Range of Investors, To Ensure a Strong
Balance Sheet, and To Enable the Expansion of the Company's Product Pipeline

PR Newswire

LAWRENCEVILLE, N.J., Oct. 28, 2013

LAWRENCEVILLE, N.J., Oct. 28, 2013 /PRNewswire/ --Celsion Corporation
(NASDAQ: CLSN), a leading oncology drug development company, announced today
that it is effecting a 1 for 4.5 reverse stock split of its common stock which
will be effective for trading purposes as of the commencement of trading on
October 29, 2013. As of that date, each 9 shares of issued and outstanding
common stock and equivalents will be consolidated into 2 shares of common
stock. In addition, at the market open on October 29, 2013, the common stock
will trade under a new CUSIP number 15117N404 although the Company's ticker
symbol, CLSN, will remain unchanged.

The reverse stock split was previously approved by the Company's stockholders
at the 2013 Annual Meeting held on July 19, 2013, and the Company subsequently
filed a Certificate of Amendment to its Certificate of Incorporation to effect
the stock consolidation. The primary reasons for the reverse stock split are:

  oTo increase the market price of the Company's common stock making it more
    attractive to a broader range of institutional and other investors,
  oTo provide the Company with additional capital resources and flexibility
    sufficient to execute its business plans including the establishment of
    strategic relationships with other companies and to ensure its ability to
    raise additional capital as necessary, and
  oAs previously announced, to expand the Company's business or product lines
    through acquisition.

The number of outstanding common shares will be reduced from 61,214,895 shares
to approximately 13.6 million shares. The number of authorized shares and the
par value per share will remain unchanged. No fractional shares will be
issued in connection with the reverse stock split. Holders of fractional
shares will be paid out in cash for the fractional portion with the Company's
overall exposure for such payouts consisting of a nominal amount. The number
of outstanding options and warrants will be adjusted accordingly, with
outstanding options being reduced from 4.1 million to approximately 0.9
million and outstanding warrants being reduced from 13.8 million to
approximately 3.1 million. Celsion stockholders will receive instructions
from its transfer agent, American Stock Transfer and Trust Company, relating
to procedures for exchanging existing stock certificates for new certificates
or book-entry shares and for the receipt of cash proceeds in lieu of
fractional shares.

"Over the last few months we have had numerous discussions with investors,
advisors and our board regarding our capital structure. We believe the
resulting increase in share price will demonstrate the true value of Celsion's
common stock, broaden the appeal of our shares to investors, particularly
institutional stockholders, and provide the Company with additional authorized
shares to execute its current business plans and strategy," stated Michael H.
Tardugno, Celsion's President and CEO.

About Celsion Corporation

Celsion is dedicated to the development and commercialization of innovative
cancer drugs, including tumor-targeting treatments using focused heat energy
in combination with heat-activated liposomal drug technology. Celsion has
research, license or commercialization agreements with leading institutions,
including the National Institutes of Health, Duke University Medical Center,
University of Hong Kong, the University of Pisa, the UCLA Department of
Medicine, the Kyungpook National University Hospital, the Beijing Cancer
Hospital and the University of Oxford. For more information on Celsion, visit
our website: http://www.celsion.com.

Celsion wishes to inform readers that forward-looking statements in this
release are made pursuant to the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. Readers are cautioned that such
forward-looking statements involve risks and uncertainties including, without
limitation, unforeseen changes in the course of research and development
activities and in clinical trials; the significant expense, time, and risk of
failure of conducting clinical trials; the effects of the reverse stock split
on the Company's share price and trading volume; HEAT Study data is subject to
further verification and review by the HEAT Study Data Management Committee;
the need for Celsion to evaluate its future development plans; termination of
the Technology Development Contract or collaboration between Celsion and HISUN
at any time; possible acquisitions or licenses of other technologies, assets
or businesses or the possible failure to make such acquisitions or licenses;
possible actions by customers, suppliers, competitors, regulatory authorities;
and other risks detailed from time to time in the Celsion 's periodic reports
and prospectuses filed with the Securities and Exchange Commission. Celsion
assumes no obligation to update or supplement forward-looking statements that
become untrue because of subsequent events, new information or otherwise.

Celsion Investor Contact
Jeffrey W. Church
Sr. Vice President and CFO
609-482-2455
jchurch@celsion.com

SOURCE Celsion Corporation

Website: http://www.celsion.com
 
Press spacebar to pause and continue. Press esc to stop.