Propanc Up-lists to OTCQB; Reduces Authorized Shares by 80%
MELBOURNE, AUSTRALIA / ACCESSWIRE / August 4, 2015 / Propanc Health Group Corporation (PPCH) ("Propanc" or "the Company"), an emerging healthcare company focusing on development of new and proprietary treatments for cancer patients suffering from pancreatic and colorectal cancers, today announced the Company recently commenced trading on the OTCQB Marketplace, and confirms it continues to file periodic reports under Section 15(d) of the Exchange Act.
Companies approved for upgrading are current in their reporting and undergo an annual verification and management certification process by the OTC Markets Group. Investors can find Real-Time Level 2 Quotes displayed and market information for the Company on the OTC Markets Group website.
Further, the Company recently reduced the number of authorized shares of common stock by 80%, down from 10 billion to 2 billion shares of common stock, by filing a Certificate of Amendment with the State of Delaware. The number of authorized shares of preferred stock remains the same at 10 million.
"Propanc has always been a fully reporting Company, and was audited from inception when we first filed our registration statement with the Securities and Exchange Commission. We felt it was important to reflect this by maintaining the appropriate certification," said James Nathanielsz, Propanc's Chief Executive Officer. "In addition, we sought to reduce our number of authorized shares because it more accurately reflects our intention to build value in our share price and in our Company, long term, as evidenced by the many re-purchases of convertible debt the company has held on its books."
The Company continues to work with its investment banking advisors on avenues for financing, as management looks to secure the funds necessary to progress its lead cancer treatment, PRP, into early stage clinical trials.
The Company also advises that its research and development activities for PRP and its POP1 research program are progressing well, as it seeks to complete several important upcoming milestones later this year and into the new year, including scheduling meetings with regulatory health agencies in Europe and the US to discuss the non-clinical and clinical development pathway for PRP, as well as ongoing patent filings and prosecutions in order to build and protect the Company's intellectual property portfolio.
"As we progress each of these activities and achieve certain milestones, we will continue to report these important events to shareholders," said James Nathanielsz. "We hope to be in a position to disclose further information in coming weeks."
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX:OTCM) operates Open, Transparent and Connected financial markets for 10,000 U.S. and global securities. Through our OTC Link(R) ATS, we directly link a diverse network of broker-dealers that provide liquidity and execution services for a wide spectrum of securities. We organize these securities into markets to inform investors of opportunities and risks: the OTCQX(R) Best Market; the OTCQB(R) Venture Market; and the OTC Pink(R) Open Market. Our data-driven platform enables investors to easily trade through the broker of their choice at the best possible price and empowers a broad range of companies to improve the quality and availability of information for their investors. To learn more about how we create better informed and more efficient financial markets, visit www.otcmarkets.com.
About Propanc:
Propanc is currently focused on developing new cancer treatments for patients suffering from pancreatic and colorectal cancers. Propanc have developed a formulation of anti-cancer compounds which exert a number of effects designed to control or prevent tumors from recurring and spreading throughout the body. Propanc's products involve or employ proenzymes, which are inactive precursors of enzymes.
In the near term, Propanc intend to target patients with limited remaining therapeutic options for the treatment of solid tumors such as colorectal or pancreatic tumors. In future, Propanc intend to development their lead product to treat (i) early stage cancer and (ii) pre-cancerous diseases and (iii) as a preventative measure for patients at risk of developing cancer based on genetic screening. For more information, visit: www.propanc.com.
Forward-looking Statements:
Certain of the matters discussed in this announcement involve risks and uncertainties including, without limitation, those regarding the Company's ability to establish and maintain the proprietary nature of its technology through the patent process, its ability to license from others patents and patent applications, if necessary, to develop certain products, its ability to implement its long range business plan for various applications of its technology, and its ability to enter into agreements with any necessary marketing and/or distribution partners for purposes of commercialization. This is not a solicitation to buy or sell securities and does not purport to be an analysis of the company's financial position. See Propanc's most recent Quarterly Report on Form 10-Q and related 8K filings.
Contact:
Regal Consulting
Tel: 702 - 575 - 9157
SOURCE: Propanc Health Group Corporation
