VANCOUVER, British Columbia, June 20, 2025 (GLOBE NEWSWIRE) -- Rakovina Therapeutics Inc. (TSX-V: RKV) (FSE:7JO) ("Rakovina" or the "Company") is pleased to announce that the effective date for the previously announced share consolidation (the "Consolidation") will be June 24, 2025. As outlined in the Company's news release dated May 15, 2025, the Consolidation will be conducted on the basis of one (1) post-consolidation common share ("Post-Consolidation Share") for every ten (10) pre-consolidation common shares ("Pre-Consolidation Share").
The Post-Consolidation Shares are scheduled to begin trading on the TSX Venture Exchange (the "TSX-V") at the market open on June 24, 2025 under the existing symbol "RKV". Following the Consolidation, the new CUSIP number for the common shares will be 75103L309 and the new ISIN number will be CA75103L3092. No fractional shares will be issued as a result of the Consolidation. Any fractional interest in shares resulting from the Consolidation will be rounded up to the next whole share if the fraction is one-half or greater, and down if the fraction is less than one-half. In all other respects, the Post-Consolidation Shares will have the same attributes as the Pre-Consolidation shares. Following the Consolidation, the Company will have approximately 21,148,038 common shares issued and outstanding.
The exercise or conversion price and the number of common shares issuable under any of the Company's outstanding warrants, stock options and convertible debentures, as applicable, will be proportionately adjusted to reflect the Consolidation in accordance with their respective terms.
The Company's transfer agent, Odyssey Trust Company ("Odyssey"), will mail a letter of transmittal to registered shareholders of the Company providing instructions on exchanging Pre-Consolidation Share certificates for Post-Consolidation Share certificates or Direct Registration System (DRS) advices. Shareholders are encouraged to send their share certificates, together with their letter of transmittal, to Odyssey in accordance with the instructions in the letter of transmittal. Until surrendered, each share certificate (or DRS advice) representing Pre-Consolidation Shares will be deemed to represent the number of whole Post-Consolidation Shares to which the shareholder is entitled as a result of the Consolidation.
The Consolidation remains subject to the final approval of the TSX-V. Additional details regarding the Consolidation can be found in the Company's news release dated May 15, 2025 available under the Company's profile on SEDAR+ at www.sedarplus.ca.
The TSX-V has neither approved nor disapproved the content of this press release. Neither the TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
About Rakovina Therapeutics Inc.
Rakovina Therapeutics is a biopharmaceutical research company focused on the development of innovative cancer treatments. Our work is based on unique technologies for targeting the DNA-damage response powered by Artificial Intelligence (AI) using proprietary, generative AI platforms. By using AI, we can review and optimize drug candidates at a much greater pace than ever before.
The Company has established a pipeline of distinctive DNA-damage response inhibitors with the goal of advancing one or more drug candidates into human clinical trials in collaboration with pharmaceutical partners.
Further information may be found at www.rakovinatherapeutics.com.
Notice Regarding Rakovina Therapeutics Forward-Looking Statements:
This press release may contain "forward-looking statements" regarding the Company and its respective business within the meaning of applicable Canadian securities laws, including, without limitations, statements regarding: the Company's objectives, goals or future plans regarding its cancer treatments or proposed business plan; expected results of the Company's DDR platform; the timing and completion of the Consolidation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. 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.
The forward-looking events and circumstances discussed in this press 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 medical device industry, economic factors, regulatory factors, the equity markets generally and risks associated with growth and competition. Although the Company 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 the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. The reader is referred to the Company's most recent filings on SEDAR+ for a more complete discussion of all applicable risk factors and their potential effects, copies of which may be accessed through the Company's profile page at www.sedar.com.
For Further Information Contact:
Michelle Seltenrich, BSc MBA
Director, Corporate Development
IR@rakovinatherapeutics.com
778-773-5432
