Received26 Jul 2023 14:09
Today
CORPORATE UPDATE July 26, 2023
InnoMed Tech Ltd is holding Company of medical science companies in the business of creating paradigm shifts in thinking to improve clinical outcomes for medical and surgical patients. The Company’s clinical and business leadership team combines years of experience of corporate, and medical science who along with medical engineers, key advisors, work to solve problems presenting in today’s medical and surgical patient population.
Directors Innomed Tec Ltd. (Parent Co):
Robert L. Rhodes - Australia (CEO)
Terrance A. Larkan - Australia (CFO)
Billy Williams - US
David Toyoda - Canada
Dr Marshall Walker- US
Directors PureFlowCath LLC. (US):
Dr Matthew Mcintyre
Robert L. Rhodes
3 to 2 independent directors
Summary of Operations
InnoMed Tech Ltd. (the “Company”) is pleased to provide an update on the corporate activities and milestones achievements.
TSX Venture Exchange Listing Update
Innomed Tech Limited (the Company) is pleased to announce that we have been given a waiver for the requirement of appointing a regulated Canadian Listing Sponsor. It is estimate that this will save the Company in the order of CAD$180,000 and remove the Canadian Listing Sponsor due diligence proves that could have taken up to six months to complete.
The waiver of the Canadian Listing Sponsor is largely based on the fact that the Company’s Board of Directors and key management personnel have considerable TSX listed company experience.
Once the Regulator (British Columbia Securities Commission) has approved the prospectus, we will push approach the TSX for final listing approval.
Prospectus Regulator Review
InnoMed Tech is pleased to advise that it has filed the updated Prospectus on Monday July 17, 2023.
This updated prospectus reflects new patent awards and financing arrangements. The audited financial statements to December 31, 2023 and six-month interim financial statement to June 30, 2023 are included in draft awaiting final clearance from the statutory auditor, RSM Canada.
The financial statements included for the first time the following:
i) the fist securitisation debt finance loan drawdowns;
ii) appointment of Ernst & Young Luxembourg (top four audit firm) to conduct the financial; accounting treatments for cash subscriber shareholder Top-Up investment protections; and
iii) the claw back of 6.5 million common shares awarded to insiders incorrectly awarded before April 15, 2021,
Patents
The Company’s strategy is to target the investment in patent application processes to those jurisdictions that present the probable markets for production and/or use.
Patent awards have now been received for Canada, Eurasia, Morocco, Panama, Japan, Philippines and Australia.
InnoMed Tech continues to progress the Unite
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