Algernon Health Announces Effective Date of Previously Announced Name Change to "Grey Matters Health Inc." and its 10:1 Share Consolidation
MWN-AI** Summary
Algernon Health Inc. has announced a significant corporate transformation, with plans to change its name to Grey Matters Health Inc. effective April 21, 2026. Alongside the name change, the company will implement a 10-for-1 share consolidation of its Class A common shares, as first disclosed on March 31, 2026. This consolidation aims to streamline the capital structure, and the shares will commence trading under the new ticker symbol "GREY" on the Canadian Securities Exchange (CSE) on the same date. The post-consolidation share count is expected to be approximately 5,418,243.
Registered shareholders will receive letters of transmittal outlining the steps to exchange their pre-consolidation shares for new ones. Non-registered shareholders will not need to take any action as their holdings will automatically be adjusted. Moreover, other securities like preferred shares, warrants, stock options, and restricted share units will also be adjusted according to their terms post-consolidation.
Grey Matters Health Inc. continues its focus on advancing brain health, specifically through offering brain-specific PET scanning services aimed at the early detection of Alzheimer’s Disease, other dementias, and various neurological conditions. The company is actively engaged in multiple innovative healthcare initiatives, including its proprietary DMT-based therapies aimed at trauma recovery and the development of treatments for chronic cough.
Despite the positive outlook, the company issued a cautionary statement regarding forward-looking statements in its release, emphasizing the potential risks and uncertainties surrounding the anticipated changes and their impact on operations. Investors are advised to remain vigilant regarding actual outcomes, which may diverge from projections due to various factors.
MWN-AI** Analysis
Algernon Health Inc., transitioning to Grey Matters Health Inc. with a 10:1 share consolidation effective April 21, 2026, presents both opportunities and challenges for investors. The renaming and consolidation signal the company’s strategic intent to pivot focus towards neuroimaging and brain health — areas that are increasingly critical as the population ages and neurodegenerative diseases rise.
Investors should consider the implications of the share consolidation. While the reduction in share count can enhance earnings per share and potentially attract institutional investors who often shy away from companies with low share prices, it also means existing shareholders will own fewer shares, which could affect liquidity. Following consolidation, the total number of Common Shares is expected to be approximately 5.4 million. This reduction may reflect positively on stock price stability and could counter some of the historical volatility associated with penny stocks.
The rebranding to Grey Matters Health Inc. aims to align the company’s identity with its focus on advanced neuroimaging technologies, indicating a commitment to expanding diagnostic services in the U.S. healthcare market. This sector is poised for growth, driven by increasing demand for early detection systems in Alzheimer’s and other neurological disorders.
However, investors must temper their optimism with caution. The healthcare landscape is fraught with regulatory approvals and intense competition. Algernon's forward-looking statements are laden with uncertainties. Risks associated with clinic openings, regulatory hurdles, and the successful commercialization of its product pipeline must be closely monitored.
In summary, while the changes at Grey Matters Health Inc. may position the company favorably in a growth sector, potential investors should conduct thorough due diligence on its operational execution and market dynamics before making investment commitments.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
VANCOUVER, British Columbia, April 15, 2026 (GLOBE NEWSWIRE) -- Algernon Health Inc. (the “Company” or “Algernon”) (CSE: AGN) (FRANKFURT: AGW0) (OTCQB: AGNPF), a Canadian healthcare company, announces that effective April 21, 2026 its corporate name will change from “Algernon Health Inc.” to “Grey Matters Health Inc.” and the Company will consolidate its Class A common shares (the “Common Shares”) on a ten (10) to one (1) basis (the “Consolidation”) as previously announced on March 31, 2026.
The Company will begin trading under the new symbol “GREY” with the Canadian Securities Exchange (the “CSE”). The new CUSIP number will be 397884107 and the new ISIN number will be CA3978841078 for the post Consolidation Common Shares of Grey Matters Health Inc. The Company’s post-consolidation Common Shares are expected to begin trading on the CSE on or about April 21, 2026. The total issued and outstanding number of Common Shares post-consolidation will be approximately 5,418,243.
Letters of transmittal with respect to the Consolidation will be mailed to all registered shareholders advising that the Consolidation has taken effect. The letter of transmittal will contain instructions on how registered shareholders can exchange their share certificates or DRS statements evidencing their pre-consolidated Common Shares for new share certificates or new DRS statements representing the number of post-consolidated Common Shares to which they are entitled. No action is required by non-registered shareholders (shareholders who hold their shares through an intermediary) to effect the Consolidation.
In addition to the Company’s Common Shares, its current outstanding preferred shares, warrants (both common and preferred), stock options and restricted share units will also be adjusted in accordance with their respective terms.
Christopher J. Moreau
CEO
Algernon Health Inc.
604.398.4175 Ext 701
info@algernonhealth.com
investors@algernonhealth.com
www.algernonhealth.com
About Algernon Health
Algernon is a Canadian healthcare company focused on the provision of brain specific PET scanning services through a planned network of new neuroimaging clinics in the U.S. for the early-stage detection of Alzheimer’s Disease, and other forms of dementia, as well as epilepsy, neuro-oncology, and movement disorders including Parkinson’s disease. Algernon has a program for Repirinast, a repurposed drug for CKD, and is also the parent company of Algernon NeuroScience, a wholly owned subsidiary, that has been advancing a psychedelic program investigating a proprietary form of DMT for stroke and traumatic brain injury recovery. The Company’s chronic cough drug Ifenprodil, which works by stopping cough in the brain, was sold for USD $2M cash and a 20% equity position in Seyltx, a private U.S. based drug development company that continues to advance research on the drug.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY DISCLAIMER STATEMENT: This news release contains forward-looking statements relating to clinic opening, both the inaugural site and additional clinic locations throughout the U.S., referral acceptance and the offering of PET scanning timelines, product development, licensing, commercialization, completion of the proposed Name Change and Consolidation, CSE approval of the Name Change and Consolidation, and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.
FAQ**
What are the anticipated benefits and implications for shareholders following the consolidation of Algernon Health Inc Com AGNPF, especially concerning the share value and trading under the new symbol GREY?
How will the name change to Grey Matters Health Inc. enhance the company's branding and market position within the healthcare sector, particularly for the services previously offered under Algernon Health Inc Com AGNPF?
Can you provide insights into how the completion of the consolidation will affect outstanding preferred shares, warrants, and stock options of Algernon Health Inc Com AGNPF, and what adjustments shareholders should expect?
What are the key factors influencing the expected timing for the launch of new neuroimaging clinics in the U.S. under Grey Matters Health Inc., and how does this align with the company’s vision compared to when it was Algernon Health Inc Com AGNPF?
**MWN-AI FAQ is based on asking OpenAI questions about Algernon Health Inc Com (OTC: AGNPF).
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