Volition Announces Closure of Share Exchange Agreement
SINGAPORE, Oct. 7, 2011 /PRNewswire/ -- Singapore Volition Pte Limited ("Volition"), a life sciences company focused on developing blood-based diagnostic tests, today announces the closure of the Share Exchange Agreement with Standard Capital Corporation, a Delaware corporation currently quoted on the OTC Bulletin Board under the symbol SNDC.OB ("Standard Capital"). Upon closure of the Agreement at 10am Pacific Daylight Time on Thursday October 6, 2011, Volition became a wholly-owned subsidiary of Standard Capital. Standard Capital has applied for a name change to VolitionRX Limited and an accompanying change to the trading symbol to VOLN.OB, but will be quoted as SNDC.OB until the changes come into effect.
"We are delighted that we have closed this Share Exchange Agreement with SNDC, and are pleased that the shareholders of Singapore Volition showed such support for us going public with 100% voting in favour of the Agreement," said Cameron Reynolds, CEO of Volition. "We are continuing to make very strong progress in all key areas of company development, and we hope to move up to the NASDAQ small cap exchange or the Amex exchange in the next 12 months upon meeting the necessary listing criteria."
The Board of Directors of VolitionRX Limited following closure of the Share Exchange Agreement are as follows:
- Chairman: Dr. Martin C. Faulkes
- President, CEO & Director: Cameron Reynolds
- Director: Dr. Satu Vainikka
- Director: Guy Archibald Innes
- Director: Dr. Alan Colman
- Director: Kevin John Alexander
A short biography for each Director is available on Volition's website at http://www.volitionrx.com/board-of-directors.html.
In addition to the Directors above, two senior executives have been appointed: Malcolm Lewin has been appointed as CFO and Treasurer, and Rodney Gerard Rootsaert has been appointed as Secretary.
Volition is a life sciences company whose goal is to make its non-invasive blood tests for cancer as common and simple to use as existing diabetic and cholesterol tests on similar formats.
Volition is managed by a well-respected team with extensive experience in diagnostics and commercialization. Volition's development activities are currently centered in Belgium and will be augmented by commercialization work in Singapore with a focus on bringing its revolutionary diagnostic products to market first in Europe, then the U.S. and worldwide.
The following discussion, in addition to the other information contained in this communication, should be considered carefully in evaluating our prospects. This communication (including without limitation the following factors that may affect operating results) contains forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended ("Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended ("Exchange Act") regarding us and our business, financial condition, results of operations and prospects. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements, but are not the exclusive means of identifying forward-looking statements in this communication. Additionally, statements concerning future matters such as revenue projections, projected profitability, growth strategies, possible changes in legislation and other statements regarding matters that are not historical are forward-looking statements.
Forward-looking statements in this communication reflect the good faith judgment of our management and the statements are based on facts and factors as we currently know them. Forward-looking statements are subject to risks and uncertainties and actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements. Factors that could cause or contribute to such differences in results and outcomes include, but are not limited to, those discussed in this communication. Readers are urged not to place undue reliance on these forward-looking statements which speak only as of the date of this communication. We undertake no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this communication.
SOURCE VolitionRX Limited