Miraculins Releases CEO Letter to Shareholders
WINNIPEG, MANITOBA -- (Marketwired) -- 01/20/14 -- Miraculins Inc.
(TSX VENTURE:MOM), ("Miraculins" or the "Company") a medical
diagnostic company focused on acquiring, developing and
commercializing diagnostic and risk assessment technologies for unmet
clinical needs, today issues the following letter to shareholders
from Company President & CEO Christopher Moreau:
Dear Fellow Shareholders:
As Miraculins' President and CEO, and as a shareholder myself, I want
to take this opportunity to thank you for your decision to become an
investor and for your ongoing support as we continue to progressively
build our company.
I also want to take a moment to provide you with some additional
information regarding the recent announcement to consolidate
Miraculins shares, along with some further perspective on the
company, its strengths, and our long-term goals and objectives.
Miraculins Stock Consolidation
From time to time, companies listed on the TSX Venture exchange will
announce a consolidation of their share structure when the company is
planning to change direction, change its name, or to start fresh as
part of a major corporate reorganization. This is not the case with
the proposed Miraculins stock consolidation. I want all shareholders
to clearly understand that Miraculins remains committed to achieving
the goal of building a world-class medical device company by bringing
our innovative technologies to those in need around the world, and
generating the financial rewards that can result for our
shareholders. The consolidation is subject to the approval of the TSX
The Board of Director's decision to consolidate our stock following
the approval of a special resolution at Miraculins' 2013 AGM, was
primarily based on the objective of achieving a more rational share
price that better reflects the company's technology value and its
future commercial promise. The proposed consolidation is also
anticipated to enable the company to be more attractive to the widest
range of potential investors.
Because Miraculins is a public company, with investors around the
globe, it is impossible for me to meet or speak with each one of you
personally. If I could, I would tell you in the strongest words
possible that in addition to the ground-breaking Scout DS(R),
PreVu(R), and Preeclampsia technologies being steadily advanced, one
of Miraculins greatest assets is the dedicated team of management and
staff I have the privilege of leading.
Behind the scenes, working with enthusiasm and perseverance, are
specialists in multiple key areas including quality assurance,
regulatory, research and development, engineering, manufacturing,
sales and marketing, communications, intellectual property, as well
as logistics and business development. Working alongside of them are
highly-skilled experts providing important legal, accounting and
corporate finance guidance. I am proud to be the President and CEO of
a company with team members whose individual and collective tenacity
and desire to see Miraculins succeed is exceptional.
Staying the Course
There is no question that our path is a challenging one, and that the
commercial introduction of new medical technologies carries with it
significant obstacles along the way. Difficult capital markets can
make it hard to access much needed capital investment on a timely
basis for operations and growth. Additionally, long buying cycles can
delay product launches and initiatives, and the highly regulated
industry we work in can also add significant costs to the bottom
Having said this, the commensurate rewards and upside can be
significant for shareholders as well, as we continue to work towards
realizing our business objectives and goals. While we are still in
the early stages of introducing these new technologies to the market,
we remain committed to our present path of innovative, stage-based
commercialization and growth.
We believe strongly in our technologies, in their capacity to impact
patients in need worldwide, and we believe in the corresponding
potential of our company to build and achieve significant value for
shareholders along the way.
Thank you again for your ongoing support.
Christopher J. Moreau, President and CEO & Shareholder, Miraculins
About Miraculins Inc.
Miraculins is a medical diagnostic company focused on acquiring,
developing and commercializing non-invasive technologies for unmet
clinical needs. A significant number of promising diagnostic
opportunities remain un-commercialized because of the sizable gap
between the discovery stage, when research institutions are typically
involved, and the commercialization stage, when the larger commercial
enterprises become interested. Miraculins has direct experience in
bridging this gap. The Company's PreVu(R) POC Test is a revolutionary
new coronary artery disease risk assessment technology that measures
cholesterol levels in a patient's skin non-invasively, painlessly and
without the need for fasting. The Company's Scout DS(R) system is the
first non-invasive diabetes testing system designed to provide a
highly sensitive and convenient method for measuring diabetes related
biomarkers in the skin, the accumulation of which are accelerated by
abnormal blood sugar levels and oxidative stress. Unlike current
testing methods, a Scout DS(R) test requires no blood draw, no
fasting, and no waiting for a lab result. The product has been used
and validated in thousands of patients around the world. The
Company's preeclampsia program is partnered with Alere Inc., one of
the world's largest diagnostic companies. For more information visit
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.
Caution Regarding Forward-Looking Information
"Certain statements contained in this press release constitute
forward-looking information within the meaning of applicable Canadian
provincial securities legislation (collectively, "forward-looking
statements"). These forward-looking statements include statements
regarding the receipt of TSX Venture Exchange approval for the
proposed share consolidation, the anticipated effects of the
consolidation, the rewards and upside for shareholders, the
realization of the company's business objectives and goals and the
potential of the company to build and achieve significant value for
shareholders. These forward-looking statements relate to, among other
things, our objectives, goals, targets, strategies, intentions,
plans, beliefs, estimates and outlook, including, without limitation,
our anticipated future operating results, and can, in some cases, be
identified by the use of words such as "believe," "anticipate,"
"expect," "intend," "plan," "will," "may" and other similar
expressions. In addition, any statements that refer to expectations,
projections or other characterizations of future events or
circumstances are forward-looking statements.
These statements reflect management's current beliefs and are based
on information currently available to management. Certain material
factors or assumptions are applied in making forward-looking
statements, and actual results may differ materially from those
expressed or implied in such statements. Important factors that could
cause actual results to differ materially from these expectations
include, among other things: Miraculins' early stage of development,
lack of product revenues and history of operating losses,
uncertainties related to clinical trials and product development,
rapid technological change, uncertainties related to forecasts,
competition, potential product liability, additional financing
requirements and access to capital, unproven markets, supply of raw
materials, income tax matters, management of growth, partnerships for
development and commercialization of technology, effects of insurers'
willingness to pay for products, system failures, dependence on key
personnel, foreign currency risk, risks related to regulatory matters
and risks related to intellectual property and other risks detailed
from time to time in Miraculins' filings with Canadian securities
regulatory authorities, as well as Miraculins' ability to anticipate
and manage the risks associated with the foregoing. Additional
information about these factors and about the material factors or
assumptions underlying such forward-looking statements may be found
in the body of this news release. Miraculins cautions that the
foregoing list of important factors that may affect future results is
not exhaustive. When relying on Miraculins' forward-looking
statements to make decisions with respect to Miraculins investors and
others should carefully consider the foregoing factors and other
uncertainties and potential events.
These risks and uncertainties should be considered carefully and
prospective investors should not place undue reliance on the
forward-looking statements. Although the forward-looking statements
contained in this press release are based upon what management
believes to be reasonable assumptions, Miraculins cannot provide
assurance that actual results will be consistent with these
forward-looking statements. Miraculins undertakes no obligation to
update or revise any forward-looking statements."
PreVu(R) and Scout DS(R) are registered trademarks of Miraculins Inc.
All Rights Reserved. 2014.
Christopher J. Moreau
President & CEO
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