news - after hours
Gemoscan appoints Wolfs director of new U.S. subsidiary
2015-01-13 17:20 ET - News Release
Mr. Brian Kalish reports
DEMAND DRIVES GEMOSCAN CANADA, INC. TO ESTABLISH U.S SUBSIDIARY AND INVESTMENT BY VALUE ADDED RESELLER
Pursuant to its news release of Aug. 7, 2014, Gemoscan Canada Inc. has established a wholly owned subsidiary, Hemocode USA Inc., through which to sell and market its Hemocode and other leading food sensitivity management programs. HUI has been set up under the laws of the State of Delaware.
In addition, Gemoscan is pleased to announce that one of its key value-added resellers has, through a convertible debenture issued by HUI, taken an option to acquire a minority interest in HUI.
Dr. Brian Wolfs, DC, a principal of the entity that provided the initial financing to HUI, has been appointed as a director of HUI and has been granted an option to buy 200,000 shares in the company, priced at five cents per share, for a period of five years.
The Hemocode system, like the company's other programs, is a personalized, medically supervised nutritional program that promotes dietary well-being. It uses portions of Gemoscan's patented technology and proprietary services to provide consultation and recommendations intended to simplify the management of food sensitivities. Today, Hemocode is offered by over 600 pharmacies and medical clinics across Canada as a complementary medical choice. The company's food sensitivity management programs are used as adjuncts in conventional and complementary medical practices, incorporating modalities and therapies that focus on lifestyle and wellness. A statistically significant base of practitioners and those engaging with Hemocode have reported improved dietary and overall wellness satisfaction.
Gemoscan expects that Hemocode will now be available in select U.S. markets during the first quarter of 2015.
We seek Safe Harbor.