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Vancouver, B.C. / TheNewswire / June 19, 2015 - Network Oncology Inc. ("Network Oncology", "the Company") announces that it has changed its name to "Network Life Sciences Inc." The name change has been effected pursuant to the Company's recently announced acquisition of the Ebola testing technology and reflects its diversification to disease testing products in addition to its current oncology generics business model.
The Company further announces that it intends to consolidate its issued and outstanding shares on the basis of one (new) post consolidation share for each three (old) pre-consolidation shares (the "Consolidation"). The shares will commence trading under the new name and on a consolidated basis on June 23, 2015 under the same symbol, "NOI". The record date for the share consolidation is June 25, 2015. The Company currently has 80,509,232 common shares issued and outstanding. Following the Consolidation, it is anticipated that the Company will have approximately 26,836,410 common shares issued and outstanding.
The exercise or conversion price and the number of common shares issuable under any of the Company's outstanding warrants will be proportionately adjusted to reflect the Consolidation in accordance with their respective terms thereof. No fractional common shares will be issued pursuant to the Consolidation, and any fractional common shares that would otherwise be issued will be rounded down to the nearest whole number.
About Network Oncology Inc.: Network has acquired and is currently selling a core portfolio of oncology generic products for the European markets with possible expansion to other territories, as well as pursuing the commercialization and future sale of an Ebola testing kit designed for field use. The Company is commercially focused and is dedicated to serving the oncology and disease testing marketplaces by understanding local market dynamics and its customers unmet needs. In addition, the Company has the ability to identify and pursue profitable segments of the oncology market in conjunction with providing value-added products and support services for its portfolio. Network also possesses the knowledge and capability to develop and commercialize differentiated versions of existing cancer products where an unmet need currently exists.
Further Information
Further details are available under the Company's profile on SEDAR at www.sedar.com, and the Company's profile on the CSE's website at www.cnsx.ca.
For further information please contact:
Bill Thomas, CFO, and Director
Telephone: +353(0)874601340
E-mail: info@networkoncology.com
Website: www.networkoncology.com
Canadian Securities Exchange (CSE): Symbol NOI
Deutsche Boerse Xetra - Frankfurt Stock Exchange: Symbol 2NY; WKN#: A11827
Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company including future plans for the development and sale of oncological pharmaceutical products and the ebola testing technology. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release and the Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the failure to satisfy the conditions of the Canadian Securities Exchange and other risks detailed from time to time in the filings made by the Company with securities regulations.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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