|By Marketwired .||
|August 28, 2014 07:37 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/28/14 -- Share Consolidation
Deserving Health International Corp. (the "Company") announces that it has completed the share consolidation previously announced on August 4, 2014, on the basis of five (5) old shares for one (1) new share (the "Consolidation"). The Consolidation was approved by the directors of the Company on August 4, 2014. As a result of the Consolidation, the 1,500,003 common shares which were previously issued and outstanding were reduced to 300,000 common shares. Each fractional common share equal to or greater than 0.5 common shares was rounded up to the nearest whole common share and each fractional common share less than 0.5 common shares was rounded down to the nearest whole common share.
Letters of transmittal describing the process by which shareholders may obtain new share certificates representing their consolidated common shares have been mailed to registered shareholders. Shareholders who hold their shares through a broker or other intermediary and do not have shares registered in their own name are not required to complete a letter of transmittal.
Issuance of Shares pursuant to License Agreement with Pleomorphic Laboratories Corporation ("Pleomorphic")
Pursuant to the license agreement with Pleomorphic (the "License Agreement") announced in the Company's news release dated August 1, 2014, the Company has issued an aggregate of 13,000,000 post-Consolidation common shares to Pleomorphic and its nominees. The deemed price of the common shares is $0.25 per common share. The common shares will be released to the respective holders over a three-year period upon the completion of certain milestones, as set out in the License Agreement. Pursuant to the License Agreement, 6,500,000 of these common shares were released to the respective holders on August 8, 2014.
Deserving Health International Corp. is a reporting issuer in the provinces of British Columbia and Alberta.
DESERVING HEALTH INTERNATIONAL CORP.
Simon Cheng, Director
Certain statements contained in this release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
300 - 1055 West Hastings Street
Vancouver, British Columbia
Tel.: 604.689.0618 / Fax: 604.689.0628