ProMIS Neurosciences Inc PMN

New Press Release - ProMIS Announces Completion of Continuance

TORONTO, Ontario and CAMBRIDGE, Massachusetts, July 14, 2023 (GLOBE NEWSWIRE) -- ProMIS Neurosciences Inc. (TSX: PMN) (NASDAQ: PMN) (“ProMIS” or the “Corporation”) is pleased to announce that it has completed its continuance (the “Continuance”) from the Canada Business Corporations Act into the...read article.

[G1945V]

"Continuance from the Canada Business Corporations Act into the Province of Ontario under the Business Corporations Act (Ontario)" What's its significance? G1945V

[retiredcop]

I would think that it means they are remaining as a registered company for financial and company reporting and they have to file taxes each year.  I personally think it's wise to stay as a Canadian company, and I am not sure about this , but I think they have amassed 10s of millions $ in capital losses which should still be on their tax files.  If it works like it would for us, when

[Mole101]

Very disappointed with PMN management,they are basically walking into privatation of the company, at this rate they won't be  qualifying for much longer in the NASDAQ and perhaps that's what they are look for ..

[M101]

Why bother with the time and expense to get the nasdaq listing then?

[Mole101]

Great question M101 ! why have they ran the company into the ground the way they have ? If they were unable to raise cash at this levels and with such small share float , what's left to do ?

[M101]

This contingency relies on an implied assumption that some private-only buyer is waiting, but why when any significant investor now would result in an instant gain from traders coming back in?  It could be, and maybe some private investor intends to dump the board along with all the listing requirements, but then the what does this board get out of it? Perhaps they've all got remuneration

[Mole101]

I will agree with you on that assessment, but then again it was interesting to see it fly to 12$ Canadian on air . Perhaps the ones that knew pumped it and retail got burdened again 

[M101]

Promis has had enough trading spikes that there's a significant community of momentum traders keeping it on the watch list, it's why they look like spikes. 

[M101]

Btw, the last spike fooled me by repeatedly not failing, until it did.  Moving on to ABOS, theyseem to have set the bar low by expecting only less ARIA than the current competition, do you ABOS investors here see any problem meeting low expectations Monday morning? 

[garygp]

This is all regualatory requirements and accounting basically.  When a corporation leaves one jurisdiction to enter another, all jurisdictions must be satisfied that the company is in good stead thus eliminating the threat of possible lawsuits and delays.  This is where good lawyers and accountants earn their keep.  As shareholders, this doesn't really affect us at all if the