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SOURCE Neovasc Inc.
TSX VENTURE: NVC
VANCOUVER, May 16, 2014 /PRNewswire/ - Neovasc Inc. ("Neovasc" or the "Company") (NASDAQ: NVCN) (TSXV: NVC) today announced that its common shares have been approved for listing and trading on the NASDAQ Capital Market (the "NASDAQ") commencing at the start of trading on May 21, 2014 under the trading ticker symbol "NVCN".
In addition, the Toronto Stock Exchange (the "TSX") has conditionally approved the listing of the Company's common shares on the TSX. Listing will be subject to Neovasc fulfilling all of the listing requirements of the TSX on or before August 12, 2014. In the interim, the Company's common shares will continue to be listed for trading in Canada on the TSX Venture Exchange under the trading ticker symbol "NVC".
Alexei Marko, Neovasc's chief executive officer, stated, "We believe that our listing on NASDAQ, one of the world's premier securities markets, will provide a more liquid and transparent market for many investors, as well as greater access to the capital markets and a broader platform for anticipated future growth. We look forward to the opportunity to bring the Neovasc story to more U.S. investors as we continue to advance our new product programs and grow our existing business."
Concurrently with its listing on the Nasdaq, Leerink Partners LLC, Citadel Securities LLC and Automated Trading Desk Financial Services LLC have agreed to act as Nasdaq market makers for the Company for an undefined term. The Company will not pay any compensation in cash or securities to such market makers.
About Neovasc Inc.
Neovasc is a specialty medical device company that develops, manufactures and markets products for the rapidly growing cardiovascular marketplace. Its products include the Tiara™ technology in development for the transcatheter treatment of mitral valve disease, the Neovasc Reducer™ for the treatment of refractory angina and a line of advanced biological tissue products that are used as key components in third-party medical products including transcatheter heart valves. For more information, visit www.neovasc.com.
Statements contained herein that are not based on historical or current
fact, including without limitation statements containing the words
"anticipates," "believes," "may," "continues," "estimates," "expects,"
"forecasts", "targets", and "will" and words of similar import,
constitute "forward-looking statements" within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995 and Canadian
securities laws. Such forward looking statements, including the
commencement date for trading on the Nasdaq, listing of the Company's
securities on the TSX, and anticipated future growth, involve known and
unknown risks, uncertainties and other factors that may cause the
actual results, events or developments to be materially different from
any future results, events or developments expressed or implied by such
forward-looking statements. Such factors include, among others, the
following: general economic and business conditions, both nationally
and in the regions in which the Company operates; history of losses and
lack of and uncertainty of revenues, ability to obtain required
financing, receipt of regulatory approval of product candidates,
ability to properly integrate newly acquired businesses, technology
changes; competition; changes in business strategy or development
plans; the ability to attract and retain qualified personnel; existing
governmental regulations and changes in, or the failure to comply with,
governmental regulations; liability and other claims asserted against
the Company; and other factors referenced in the Company's filings with
securities regulators. Although the Company believes that expectations
conveyed by the forward-looking statements are reasonable based on the
information available to it on the date such statements were made, no
assurances can be given as to the future results, approvals or
achievements. Given these uncertainties, readers are cautioned not to
place undue reliance on such forward-looking statements. The Company
does not assume the obligation to update any forward-looking statements
except as otherwise required by applicable law.
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