TORONTO, Dec. 5, 2012 (GLOBE NEWSWIRE) -- Gemoscan Canada, Inc. ("Gemoscan" or the "Corporation") – (TSX-V:GES) wishes to announce that it has entered into a secured loan agreement with an arm's length party (the "Lender"). The Lender has provided the Corporation a $175,000 loan (the "Loan"), bearing interest at a rate of 9% per annum and which matures on November 28, 2013. Additionally, in connection with the Loan, the Lender will receive a bonus of 358,974 Class A Shares (the "Shares") in the capital of the Corporation at a price of $0.0975 per Share. All Shares are subject to a statutory four month plus one day hold period from November 28, 2012.
ABOUT GEMOSCAN CANADA, INC.
Gemoscan is an industry leader in food intolerance management and maintains a first-to-market position with Canada wide distribution through select retail partners. Founded in 2003, using its proprietary patented technology; Gemoscan develops, owns and markets comprehensive food sensitivity and dietary management solutions for consumers, including the HEMOCODETM Food Intolerance System, a personalized naturopathic nutritional program that promotes well-being. Gemoscan is the first and only provider to commercialize a food intolerance management solution directly to consumers in partnership with retailers, and today offers the most comprehensive services available.
Gemoscan Canada, Inc. trades its shares on the Toronto Venture Exchange (TSX-V) under the symbol GES and is quoted on the Munich, Frankfurt and Stuttgart Stock Exchanges under the symbol 1GE.
This news release contains certain "forward-looking information". All statements, other than statements of historical fact that address activities, events or developments that Gemoscan believes, expects or anticipates will or may occur in the future. These forward-looking statements reflect the current expectations or beliefs of Gemoscan based on information currently available to Gemoscan. Forward-looking statements are subject to a number of significant risks and uncertainties and other factors that may cause the actual results of Gemoscan to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on Gemoscan. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Gemoscan disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although Gemoscan believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Gemoscan Canada, Inc. Brian Kalish Director, President and CEO (416) 650-1200 Email: Company website: www.gemoscan.com