Dividend is Approximately 83% Payout of Zander's Issued and Outstanding Common Shares
SAN DIEGO, September 29, 2017 /PRNewswire/ --
Entest BioMedical, Inc. (ENTB) today announced that its Board of Directors has authorized a distribution on a pro rata basis as a dividend in kind of 3,000,000 of the common shares of Zander Therapeutics, Inc. ("Dividend Shares"), a subsidiary of ENTB, to:
(a) Holders of record of the outstanding common shares of ENTB as of the record date
(b) Holders of record of the shares of any outstanding series of the preferred shares of ENTB as of the record date.
Entest BioMedical's Chairman & CEO, David Koos stated, "The record date is anticipated to be set as soon as possible after the Form S-1 registering the Dividend Shares under the Securities Act of 1933 is declared effective by the United States Securities and Exchange Commission (SEC). On a pro rata basis, both common and all classes of preferred shareholders will receive this dividend. The Company expects the registration statement to be filed within the next few days with the SEC."
About Zander Therapeutics Inc. and Entest BioMedical Inc.:
Zander Therapeutics is a subsidiary of Entest BioMedical Inc. (ENTB), a publicly traded biotechnology company focused on veterinary medicine. The Company seeks to develop small molecule and immune stimulating therapies for veterinary applications.
Currently, the Company's major interest is in developing small molecule therapies for treating cancer and autoimmune diseases in animals, which include arthritis.
Zander Therapeutics Inc. is the exclusive licensee for veterinary applications of Regen BioPharma Inc.'s (RGBP) (RGBPP) intellectual property and technology relating to NR2F6. NR2F6 is a molecular switch known as an 'orphan nuclear receptor', which controls genes associated with the immune response. Zander Therapeutics is solely focused on veterinary applications.
Disclaimer: This news announcement may contain forward-looking statements. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.
Zander Therapeutics, Inc.
David R. Koos, Ph.D.
Chairman & Chief Executive Officer