VANCOUVER, BC and BOSTON, MA / ACCESSWIRE / May 14, 2020 / Imagin Medical (CSE:IME)(OTCQB:IMEXF)(FRA:DPD2)("Imagin" or the "Company") today provided an update on the actions the Company has taken in response to the global COVID-19 pandemic.
"The sudden impact of the pandemic on the global economy has made it imperative for us to be flexible and quickly adapt our business to current conditions," said Jim Hutchens, President & CEO of Imagin Medical. "We have implemented emergency measures to decrease non-essential expenses in all areas of our business in order to extend Imagin's cash runway. We have reduced salaries company-wide, put a freeze on employee travel, and switched to virtual development and operational meetings."
"At the same time, we remain deeply committed to advancing the i/Blue™ Imaging System toward commercialization," Mr. Hutchens added.
Imagin continues to monitor and implement recommendations from local and national health organizations. The Company's top priorities are the health and safety of its team members and the communities in which they live and work.
"Imagin has acted decisively to lower expenses and improve overall cost structure. We will continue to adjust our operations to the evolving situation to ensure the Company emerges from the pandemic in a healthy position to move forward," said Mr. Hutchens.
About Imagin Medical
Imagin Medical is a surgical imaging company focused on advancing new methods of visualizing cancer during minimally invasive procedures. The Company believes its first product, the i/Blue™ Imaging System, with its proprietary optics and light sensors, will greatly increase the efficiency and accuracy of detecting cancer for removal, helping to reduce recurrence rates. The Company's initial focus is bladder cancer. Learn more at
www.imaginmedical.com.
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward- looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Specifically, there is no assurance the Company's imaging system will work in the manner expected. In addition, there is uncertainty about the spread of the COVID-19 virus and the impact it will have on the Company's operations, global supply chains and economic activity in general. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information. The CSE has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.
COVID-19 Pandemic
The COVID-19 outbreak has resulted in a widespread health crisis that has affected economies and financial markets around the world resulting in an economic downturn. The effects of this pandemic on the Company may include interruptions to supply chains, manufacturing activities and research and development programs and increased government regulations or interventions. The duration and impact of the COVID-19 outbreak is unknown at this time and it is not possible to reliably estimate the length and severity of these developments nor the impact of these developments on the financial results and condition of the Company in future periods.
Contacts:
Stephen Kilmer, Investor Relations
Telephone: 647-872-4849
Email: stephen@kilmerlucas.com
Jim Hutchens, President & CEO
Telephone: 833-246-2446
SOURCE: Imagin Medical
View source version on accesswire.com:
https://www.accesswire.com/589835/Imagin-Medical-Reports-Response-To-COVID-19-Impact
