CVR Medical Corp. Resumes Trading Following Closing Change of Business
September 27, 2016 – Vancouver, British Columbia (TSX-V: CVM) CVR Medical Corp. (the “Company”) is pleased to announce it resumed trading on the TSX Venture Exchange (the “Exchange”) on September 27, 2016 following the close of the acquisition of certain intellectual property and the entering of a joint venture (the “Change of Business”) with CVR Global, Inc. (“CVR Global”) pursuant to the policies of the Exchange.
In connection with the Change of Business, the Company changed its name from “Big Bar Resources Corporation” to “CVR Medical Corp.” pursuant to shareholder approval at a meeting on September 21, 2016. Further, the Company meets the listing requirements of a Tier 2 Life Sciences issuer upon completion of the Change of Business.
Lastly, the Company appointed the following people to their respective positions on close of the Change of Business:
- Peter Bakema as CEO, President, and a Director;
- Paul Blunden as a Director;
- Anthony Robinson as Chief Operations Officer; and
- Jeremy Poirier as a Director.
Concurrently, Bruno Fruscalzo resigned from the Board of Directors of the Company. Mr. Fruscalzo’s resignation was unrelated to the Change of Business.
Further information regarding the Change of Business is contained in the Company’s management filing statement dated September 9, 2016 which is available for viewing on SEDAR at www.sedar.com.
Trading in the securities of the Company should be considered highly speculative. The TSXV has in no way passed upon the merits of the Change of Business and has neither approved nor disapproved the contents of this news release.
Other Information and Updates
Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
This news release contains statements about the Company’s expectations regarding the Change of Business that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements and there can be no assurance that such expectations will prove to be correct. Factors that could cause the actual results to differ materially from those in forward-looking statements include failure to complete the Change of Business for any reason whatsoever, including failure to obtain Exchange acceptance or shareholder approval therefor. The forward-looking statements contained in this news release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
This news release does not constitute and the subject matter hereof is not, an offer for sale or a solicitation of an offer to buy, in the United States or to any “U.S Person” (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the “1933 Act”)) of any equity or other securities of the Company. The securities of the Company have not been registered under the 1933 Act and may not be offered or sold in the United States (or to a U.S. Person) absent registration under the 1933 Act or an applicable exemption from the registration requirements of the 1933 Act.
Investors are cautioned that, except as disclosed in the management information circular to be prepared in connection with the Change of Business, any information released or received with respect to the Change of Business may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative.
The Exchange has in no way passed upon the merits of the Change of Business and has neither approved nor disapproved the contents of this news release.