NEW YORK, August 7, 2015 /PRNewswire/ -- Q BioMed Inc (OTC: QBIO) a biotechnology acceleration and development company is pleased to provide an update to shareholders and potential shareholders.
Q BioMed Inc. has now completed its corporate and business restructuring. Over the last 3 months new management has taken its place at the helm of the company and begun the transition into a biomedical acceleration and development company. We are dedicated to acquiring and providing strategic resources and expansion capital to innovative healthcare companies critical to providing much needed services and products to patients in need. We have identified several targets that will provide a substantial pipeline of innovative and high value assets to the Company as well as the patients that will benefit from them.
We believe that we will be in a stronger position to consummate a transaction by increasing our outstanding stock through a stock dividend. To that end, our board of directors approved a stock dividend whereby for every one share of common stock outstanding, our shareholders received an additional 1.5 shares of common stock. The record date for this action was August 5th and the resulting dividend is now reflected in our share capital. As part of the management change 3,750,000 shares were returned to treasury. The total outstanding share count is now 8,375,000 with a public float of 3,125,000.
The markets for innovative biotechnology assets are stronger than they have ever been. We are positioning ourselves to capitalize on the inelastic demand for quality products, technologies and solutions to ever growing healthcare challenges.
In furtherance of that effort, we are currently conducting due diligence on several potential assets and expect to announce an initial business transaction in the very near future.
Please visit our website www.qbiomed.com to learn more about our company, our management and our vision. Please feel free to sign up for our updates and stay abreast of our progress and developments.
About Q BioMed Inc.
Q BioMed Inc. is a biomedical acceleration and development company. We are dedicated to acquiring and providing strategic resources and expansion capital and to innovative healthcare companies and biomedical assets critical to providing important healthcare and related products to patients in need. Partnering with exceptional entrepreneurs and helping to create market-leading companies in healthcare is a formula for proven success. As entrepreneurs and investors with operational and technical expertise we embrace a collaborative approach to capital formation and business development.
Forward-Looking Statement Disclaimer
This release contains forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this news release concerning the Company's expectations, plans, business outlook or future performance, and any other statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are "forward-looking statements". Forward-looking statements are by their nature subject to risks, uncertainties and other factors which could cause actual results to differ materially from those stored in such statements. Such risks, uncertainties and factors include, but are not limited to the risks set forth in the Company's most recent Form 10-K, 10-Q and other SEC filings which are available through EDGAR at www.sec.gov. The Company assumes no obligation to update the forward-looking statements.
SOURCE Q BioMed Inc.