(TheNewswire)
L ondon, Ontario - TheNewswire - October 30, 2020 - Sernova Corp. (TSXV:SVA) (OTC:SEOVF) (FSE:PSH), aclinical-stage regenerative medicine company, announces that, subjectto acceptance by the TSX Venture Exchange, it intends to extend theexpiry date of 11,016,000 outstanding share purchase warrants (the"Warrants") issued pursuant to a private placement thatclosed in two tranches. The Warrants currently expire on November 14,2020, and November 21, 2020. Each Warrant is exercisable into an equalnumber of common shares of the Company at a price of $0.35. Ifaccepted by the TSX, the new expiry date for the Warrants will be 4:00p.m. (Pacific Time) on February 12, 2021, and February 19, 2021. Allother terms and conditions of the Warrants, including the exerciseprice, remain the same.
ABOUT SERNOVA CORP.
Sernova Corp is developing regenerative medicinetherapeutic solutions using a medical device (Cell Pouch(TM)) andimmune protected therapeutic cells/tissues (i.e. human donor cells,corrected human cells, and stem cell-derived cells) to improve thetreatment and quality of life of people with chronic metabolicdiseases such as insulin-dependent diabetes, blood disorders includinghemophilia, and other diseases treated through cellular production ofproteins or hormones missing or in short supply within the body. Formore information, please visit www.sernova.com .
ABOUT SERNOVA'S CELL POUCHSYSTEM
The Cell Pouch, as part of the Cell Pouch System, is anovel, proprietary, scalable, implantable macro-encapsulation devicesolution designed for the long-term survival and function oftherapeutic cells. The device, upon implantation, is designed toincorporate with tissue, forming highly vascularized tissue chambersfor the transplantation and function of therapeutic cells, which thenrelease proteins, hormones, or other factors as required to treatdisease. Sernova is currently conducting a Phase I/II study at theUniversity of Chicago and has demonstrated encouraging early safetyand efficacy indicators. The Cell Pouch, in combination withtherapeutic cells/tissues, has been shown to provide long-term safetyand efficacy in preclinical models of diabetes, hemophilia A and otherindications supporting our therapeutics platform.
For further information contact:
Dominic Gray
Sernova Corp
Tel: (519) 858-5126
Forward-Looking Information
This release contains statements that, to the extentthey are not recitations of historical facts, may constitute"forward-looking statements" that involve various risks,uncertainties, and assumptions, including, without limitation,statements regarding the prospects, plans, and objectives of theCompany. Wherever possible, but not always, words such as"expects", "plans", "anticipates","believes", "intends", "estimates","projects", "potential for" and similarexpressions, or that events or conditions "will","would", "may", "could" or"should" occur are used to identify forward-lookingstatements. These statements reflect management's beliefs with respectto future events and are based on information currently available tomanagement on the date such statements were made. Many factors couldcause Sernova's actual results, performances or achievements to not beas anticipated, estimated or intended or to differ materially fromthose expressed or implied by the forward-looking statements containedin this news release. Such factors couldinclude, but are not limited to, the Company's ability to secureadditional financing and licensing arrangements on reasonable terms,or at all; ability to conduct all required preclinical and clinicalstudies for the Company's Cell Pouch System and/or relatedtechnologies, including the timing and results of those trials;ability to obtain all necessary regulatory approvals, or on a timelybasis; ability to in-license additional complementary technologies;ability to execute its business strategy and successfully compete inthe market; and the inherent risks associated with the development ofbiotechnology combination products generally. Many of the factors arebeyond our control, including those caused by, related to, or impactedby the novel coronavirus pandemic. Investors should consult theCompany's quarterly and annual filings available on www.sedar.com foradditional information on risks and uncertainties relating to theforward-looking statements. Sernova expressly disclaims any intentionor obligation to update or revise any forward-looking statements,whether as a result of new information, future events orotherwise.
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