Sign up Australia
Proactive Investors - Run By Investors For Investors

PreveCeutical Medical shareholders approve 5:1 stocks split

Shareholders approved the move at the AGM and special meeting of shareholders on May 14
boardroom
Chairman Stephen Van Deventer.said it would make shares more accessible and enhance liquidity

Health sciences and preventative medicines firm PreveCeutical Medical Inc (CSE:PREV, OTCQB:PRVCF) is poised to carry out a stock split after shareholders approved the plan.

At the AGM and special meeting of shareholders on May 14, a special resolution was passed approving the proposed split on the basis of five new shares for each one existing (5:1).

READ: PreveCeutical Medical receives second Aurora cannabis shipment

"We believe the stock split demonstrates the company's continued commitment to broaden its shareholder base and we anticipate that the stock split will make PreveCeutical's securities more accessible to investors and enhance liquidity for shareholders." said president and chairman Stephen Van Deventer.

Earlier this month, the firm said it had received the second shipment of dried cannabis materials from major Aurora Cannabis, which will be used in PreveCeutical's soluble gel (Sol-gel) drug delivery research.

As revealed in March, the company, in a major milestone, had received the key permits to allow this material to be imported into Australia by the cannabis major.

It is being used for the group's research led by Preveceutical's chief research officer Dr Harendra Parekh at the University of Queensland.

Preveceutical aims to develop therapies for relief from a range of symptoms, including pain, inflammation, seizures and neurological disorders.

View full PREV profile View Profile

PreveCeutical Medical Inc Timeline

Related Articles

blood
April 01 2018
The company is in the process of raising £5mln, with a possible further £1mln through a share issue at 52.5p
couple in bed
March 14 2018
MED2002 is a rapid onset gel designed for those men where the current pill-based treatments aren’t appropriate, or carry significant side-effects
Zelda's Stewart Washer at Proactive's CEO Sessions
November 17 2017
Stewart Washer at Proactive's CEO Sessions this week.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use