SAN DIEGO and TORONTO, Oct. 1,
2014 /PRNewswire/ - Aptose Biosciences Inc. (TSX: APS), a
clinical-stage company developing new therapeutics and molecular
diagnostics that target the underlying mechanisms of cancer,
announces that it has filed articles of amendment to give effect to
the reverse stock split (consolidation) of its common shares
(the "Common Shares") on the basis of one (1)
post-consolidation Common Share for each twelve (12)
pre-consolidation Common Shares (the "Reverse Stock
Split").
At the annual general and special meeting of the
shareholders of the Company held on August
19, 2014, the shareholders of the Company authorized the
board of directors to effect a reverse stock split of the Common
Shares at a ratio within the range of one (1) post-consolidation
Common Share for each five (5) to fifteen (15) pre-consolidation
Common Shares. It is expected that the Common Shares will commence
trading on the Toronto Stock Exchange on a consolidated basis on or
about October 6, 2014. The number of
Common Shares currently outstanding is 139,324,451. The number of
Common Shares outstanding following the Reverse Stock Split will be
of approximately 11,610,402.
The Reverse Stock Split is being implemented as
a way to potentially increase the trading price of the common
shares as the Company is contemplating a potential listing on the
NASDAQ Stock Exchange.
"We are extremely appreciative of the support we
have received from our shareholders for transforming Aptose into a
preeminent company committed to anticancer drug development,"
William G. Rice, Ph.D., Aptose's
Chairman, President and Chief Executive Officer. "In effecting
the reverse split, we are now significantly closer to meeting
listing requirements for trading on the NASDAQ market, which would
expand our visibility, and provide access to a broader investor
base and opportunity for increased shareholder value."
Letters of transmittal with respect to the
Reverse Stock Split have been mailed out to all registered
shareholders. All registered shareholders of the Company are
required to send their certificates representing pre-consolidation
Common Shares with a properly executed letter of transmittal to the
transfer agent of the Company, Computershare Investor Services
Inc., in accordance with the instructions provided in the letter of
transmittal. If, as a result of the Reverse Stock Split, a
shareholder would be entitled to receive a fractional Common Share,
the number of Common Shares to be received by such shareholder will
be rounded up or down to the nearest whole Common Share. All other
outstanding securities of the Company exchangeable, exercisable or
convertible into Common Shares will be adjusted accordingly.
Shareholders who hold their Common Shares
through their broker or other intermediary and do not have actual
share certificates will not be required to complete and return a
letter of transmittal. Any pre-consolidation Common Shares owned by
such shareholders will automatically be adjusted as a result of the
Reverse Stock Split and no further action is required to be taken
by such shareholders.
About Aptose
Aptose Biosciences is a clinical-stage
biotechnology company committed to discovering and developing
personalized therapies that address unmet medical needs in
oncology. Aptose is advancing new therapeutics focused on
novel cellular targets on the leading edge of cancer research
coupled with companion diagnostics to identify the optimal patient
population for its products. Aptose's lead anticancer agent
APTO-253 is under development for acute myeloid leukemia (AML),
myelodysplastic syndromes (MDS) and other hematologic
malignancies.
Forward Looking Statements
This press release contains forward-looking
statements within the meaning of Canadian and U.S. securities laws
including regarding a potential listing on the NASDAQ Stock
Exchange and the Reverse Stock Split. Such statements include, but
are not limited to, statements relating to Aptose's plans,
objectives, expectations and intentions and other statements
including words such as "continue", "expect", "intend", "will",
"should", "would", "may", and other similar expressions. Such
statements reflect our current views with respect to future events
and are subject to risks and uncertainties and are necessarily
based upon a number of estimates and assumptions that, while
considered reasonable by us are inherently subject to significant
business, economic, competitive, political and social uncertainties
and contingencies. Many factors could cause our actual results,
performance or achievements to be materially different from any
future results, performance or achievements described in this press
release. Such expressed or implied forward looking statements could
include, among others: our ability to obtain the capital required
for research and operations; the inherent risks in early stage drug
development including demonstrating efficacy; development time/cost
and the regulatory approval process; the progress of our clinical
trials; our ability to find and enter into agreements with
potential partners; our ability to attract and retain key
personnel; changing market conditions; and other risks detailed
from time-to-time in our ongoing quarterly filings, annual
information forms, annual reports and annual filings with Canadian
securities regulators and the United
States Securities and Exchange Commission.
Should one or more of these risks or
uncertainties materialize, or should the assumptions set out in the
section entitled "Risk Factors" in our filings with Canadian
securities regulators and the United States Securities and Exchange
Commission underlying those forward-looking statements prove
incorrect, actual results may vary materially from those described
herein. These forward-looking statements are made as of the date of
this press release and we do not intend, and do not assume any
obligation, to update these forward-looking statements, except as
required by law. We cannot assure you that such statements will
prove to be accurate as actual results and future events could
differ materially from those anticipated in such statements.
Investors are cautioned that forward-looking statements are not
guarantees of future performance and accordingly investors are
cautioned not to put undue reliance on forward-looking statements
due to the inherent uncertainty therein.
SOURCE Aptose Biosciences Inc.
