NEW YORK, Sept. 17, 2018 /PRNewswire/ -- Eternity Healthcare Inc. ("Eternity" or the "Company") (OTC: ETAH) today announced that it expects to complete the construction and outfitting of its stem cell facility in Guizhou, Tongren, China, by the end of calendar year 2018. The delay from the initially anticipated completion date of May 2018, was due to changes in the policies granted by Tongren Hi-tech Industrial Development Zone Management Committee (the "Management Committee") to Guizhou Tongren Healthy China Biotechnology Co., Ltd., the Company's wholly owned subsidiary. During the initial phases of construction, the Company was made aware that changes were likely and delayed completing certain aspects of the project. Now that through the Company's proactive communication with the Management Committee the changes have been finalized, Tongren Healthy has resumed making the necessary improvements to the facility and expects to complete construction and start operations by the end of calendar year 2018.
Separately, the Company announced today that to facilitate trading in its common stock, it plans to declare a stock dividend of 2.5 shares of common stock for every common share currently issued and outstanding, subject to the approval of the Financial Industry Regulatory Authority (the "FINRA"). The Company has made a submission to FINRA and is working to obtain FINRA's approval.
ETERNITY HEALTHCARE INC.
Certain matters discussed in this press release are 'forward-looking statements' intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. In particular, the Company's statements regarding its intent to develop a stem cell facility, the timing of the completion of the construction of such facility and the benefits of such a facility to the public and the Company are subject to numerous risks and uncertainties, including, but not limited to, obtaining necessary permits, the terms under which the project will be completed, the consumer acceptance of stem cell technologies and whether alternate technologies will displace stem cell technologies. The factors discussed herein and expressed from time to time in the Company's filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed in or implied by such statements. The forward-looking statements are made only as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
SOURCE Eternity Healthcare Inc.