REG - Argent Biopharma Ltd - Trading on the OTCQB and Appointment of CFO

Argent BioPharmaAnnouncement

07/05/2024 07:15

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RNS Number : 3880N  Argent Biopharma Limited  07 May 2024

 

7 May 2024

 

Argent BioPharma Ltd.

 

Argent BioPharma Commences Trading on the OTCQB Venture Market and Appoints
CFO

 

Argent BioPharma Ltd. (Argent BioPharma or the Company), is pleased to
announce that its ordinary shares have been approved to trade on the OTCQB
Venture Market (OTCQB) in the United States (the U.S.) and commenced trading
at the market open on 2 May 2024 under the ticker MGCLF. The Company is in the
process of applying to have its symbol changed.

 

The cross-trading of the Company's ordinary shares on the OTCQB may provide
enhanced investor benefits, including easier trading access for certain
investors located in the U.S. and greater liquidity due to a broader
geographic pool of potential investors. Through trading on the OTCQB, the
Company will be able to engage with a wide network of U.S. investors, data
distributors and media partners, ensuring that U.S. investors have access to
the same level of information and disclosure that is available to investors in
Australia, but through U.S. facing platforms and portals. In addition, the
OTCQB cross-trading facility will provide U.S. based investors with the
ability to access Argent BioPharma's ordinary shares in U.S. dollars during
U.S. market hours.

 

The ability to trade in the Company's existing ordinary shares on the ASX will
not be affected by having the OTCQB facility and no new ordinary shares have
been issued. Argent BioPharma will continue to make announcements and
disclosures to the Australian Securities Exchange through the Market Operating
Rules and Listing Rule requirements.

 

The OTCQB is a leading market for U.S. and international companies in the
entrepreneurial and development stage. To be eligible, companies must be
current in their financial reporting, pass a minimum bid price test, and
undergo an annual company verification and management certification process.
As a verified market with efficient access to U.S. investors, OTCQB helps
companies build shareholder value with a goal of enhancing liquidity and
achieving a fair valuation.

 

Additionally, the Company is pleased to announce the appointment of Mr Igor
Bluvstein as Chief Financial Officer. Mr. Bluvstein has over 15 years of
financial leadership positions in the e-commerce, biotechnology,
petrochemical, and medical cannabis industries. He served as the CFO at MDD
Group, as Regional CFO at Frutarom Industries Ltd. (acquired by International
Flavors & Fragrances Inc. (NYSE: IFF), as the CFO of an e-commerce
retailer, as a Financial Controller at Mirland Development Corporation PLC,
and as a senior auditor at Ernst & Young Global Ltd. Mr. Bluvstein holds a
Bachelor of Arts in accounting and economics from the Open University in
Israel. He is also a Certified Public Accountant (CPA).

 

Roby Zomer, Managing Director and CEO of Argent BioPharma, commented: "We are
pleased to commence trading of Argent BioPharma's shares on the OTCQB, marking
another step forward of rapid progress for the Company".

 

"Cross-trading on the OTCQB will increase liquidity and significantly enhance
the ability of U.S. based investors to access and trade Argent BioPharma's
shares during a period in which we are actively progressing our key drug
developments".

 

"Trading on OTCQB will also, we believe, serve to diversify the share register
and increase exposure to a broader range of investors".

 

"I'm also delighted we have been able to appoint someone of Igor's expertise
as the Company's CFO, we are all very much looking forward to working with
him".

 

-Ends-

 

 

 

Authorised for release by the board of directors, for further information
please contact:

 

 Argent BioPharma                                             Argent BioPharma

 Roby Zomer                                                   Rowan Harland

 CEO & Managing Director                                      Company Secretary

 +61 8 6382 3390                                              +61 8 6382 3390

 info@argentbiopharma.co (mailto:info@argentbiopharma.co) m   info@argentbiopharma.co (mailto:info@argentbiopharma.co.uk) m

 UK IR/PR Advisers                                            UK Brokers

 IFC Advisory                                                 Oberon Capital

 Graham Herring / Tim Metcalfe / Zach Cohen                   Aimee McCusker / Adam Pollock

 +44 203 934 6630                                             +44 203 179 5300

 argentbiopharma@investor-focus.co.uk                         aimeemccusker@oberoninvestments.com
 (mailto:argentbiopharma@investor-focus.co.uk)                (mailto:aimeemccusker@oberoninvestments.com) adampollock@oberoninvestments.com
                                                              (mailto:adampollock@oberoninvestments.com)

 

 

 

About Argent BioPharma

 

Argent BioPharma is dedicated to meeting unmet medical needs by combining
PolyPharmacology and Nanotechnology, aspiring to be a renowned global leader
in the biopharmaceutical sector. Our mission centres on researching and
developing ground-breaking treatments for worldwide health issues, guided by
strategic principles such as pioneering life science advancements, ensuring
global access, fostering continuous innovation, and striving for industry
leadership.

 

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