TORONTO, April 18, 2017 (GLOBE NEWSWIRE) -- Profound Medical Corp. (TSX-V:PRN) (OTCQX:PRFMF) (“Profound” or the
“Company”) an emerging medical device company focused on prostate care, announced today that it has secured Depository Trust
Company (“DTC”) eligibility for its common shares listed on the OTCQX.
Securities that are eligible to be electronically cleared and settled through the DTC are considered “DTC eligible”. This
electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for
investors.
“Becoming DTC eligible greatly simplifies the process of trading and exchanging Profound’s stock in the U.S., which, combined
with our ongoing efforts to expand our shareholder base, will hopefully lead to improved liquidity of our shares,” commented Arun
Menawat, Profound’s CEO.
Profound is currently conducting a pilot commercial launch of its TULSA-PRO® system in key European and other CE mark
jurisdictions. The Company is also sponsoring a multicenter, prospective FDA-registered clinical trial, TACT, which is designed to
further demonstrate the safety and effectiveness of this innovative technology. If successful, TACT is expected to support
Profound's application to the U.S. Food and Drug Administration for approval to market the TULSA-PRO® system in the
United States.
About Profound Medical Corp.
The Profound Medical team is committed to the effort to achieve a new therapeutic standard in prostate cancer. For the millions
of men currently living with prostate cancer, and the thousands more who are diagnosed with it every year, current treatment
options often mean having to make difficult choices based on potential side effects that can significantly impact quality of
life. Our mission is to profoundly change the standard of care by creating a tomorrow where clinicians can confidently ablate
cancerous prostate tissue with precision, while actively protecting critical anatomy from potential side effects; a tomorrow where
patients have access to a safe, fast and effective treatment option, so they can quickly return to their daily lives.
Established in 2008, Profound Medical is commercializing a novel technology, TULSA-PRO® system, which combines
real-time Magnetic Resonance Imaging with transurethral, robotically-driven therapeutic ultrasound and closed-loop thermal feedback
control that is designed to provide precise ablation of the prostate while simultaneously protecting critical surrounding anatomy
from potential side effects. TULSA-PRO® system is CE Marked and Profound is sponsoring a multicenter, prospective
FDA-registered clinical trial, TACT Pivotal Clinical Trial, which is designed to further demonstrate the safety and effectiveness
of this innovative technology.
Forward-Looking Statements
This release includes forward-looking statements regarding Profound and its business which may include, but is not limited
to, the expectations regarding the efficacy of Profound’s technology in the treatment of prostate cancer. Often, but not always,
forward-looking statements can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends",
"contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or
state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such
statements are based on the current expectations of the management of Profound. The forward-looking events and circumstances
discussed in this release, may not occur by certain specified dates or at all and could differ materially as a result of known and
unknown risk factors and uncertainties affecting the company, including risks regarding the pharmaceutical industry, economic
factors, the equity markets generally and risks associated with growth and competition. Although Profound has attempted to
identify important factors that could cause actual actions, events or results to differ materially from those described in
forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated,
estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws,
forward-looking statements speak only as of the date on which they are made and Profound undertakes no obligation to publicly
update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, other than as
required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange), nor the OTCQX accepts responsibility for the adequacy or accuracy of this release.
Contacts For further information, please contact: Stephen Kilmer Investor Relations skilmer@profoundmedical.com T: 647.872.4849 Or Rashed Dewan Vice President, Finance T: 647.476.1350
