Exhibit
99.1
MetaStat Voluntarily Withdraws Listing on the OTCQB and Files Form
15 to Suspend its Reporting Obligations
BOSTON, July 16, 2018 (BUSINESS WIRE) -- MetaStat, Inc. (OTCQB:
MTST) (the “Company”), a precision medicine company
developing novel anti-metastatic drugs for the treatment of
patients with aggressive cancer, today announced the Company is
voluntarily deregistering its common stock under Section 12(g) of
the Securities Exchange Act of 1934, as amended (“Exchange
Act”) and suspending its reporting obligations under Section
15(d) of the Exchange Act by filing a Form 15 with the Securities
and Exchange Commission (the “SEC”) on July 16,
2018.
“After a thorough review of the benefits and risks associated
with being a public company, management and the board of directors
felt deregistering as an SEC reporting company is in the best
interest of the Company and all shareholders,” stated Douglas
A. Hamilton, President and CEO of MetaStat. “It has been
clear for some time the Company was not benefiting from the public
listing as the market capitalization, access to capital and
liquidity decreased despite the Company generating positive data
and executing on its product development
milestones.”
The Company’s reporting obligations with the SEC are
suspended immediately upon filing the Form 15, including its
obligations to file annual reports on Form 10-K, quarterly reports
on Form 10-Q, and current reports on Form 8-K. The Company expects
termination of its duty to file all other reports with the SEC will
become effective in 90 days.
The Company’s common stock is currently quoted on the OTCQB,
operated by OTC Markets Group. The Company expects its common stock
will continue to be quoted on the OTCQB until its periodic
reporting obligations under the Exchange Act are suspended, at
which time the Company anticipates its common stock will trade on
OTC Pink Market, so long as market makers demonstrate an interest
in trading in the Company's common stock. However, there is no
assurance trading in the Company's common stock will continue on
the OTC Pink Market or on any other securities exchange or
quotation medium.
About MetaStat, Inc.
MetaStat is a precision medicine company dedicated to improving the
survival of patients with aggressive cancer. Our goal is to
transform aggressive cancer into a manageable disease.
MetaStat’s therapeutic approach targets the MENA pathway, a
critical metastatic pathway responsible for driving tumor
resistance and the spread of aggressive cancer. MetaStat is
developing novel inhibitors targeting the MAPKAPK2 pathway based on
the discovery of its role in the activation of the MENA pathway.
MetaStat is leveraging a proven and highly successful strategy in
oncology through the development of small molecule
inhibitors.
Forward-Looking Statements
This press release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Exchange Act, and such forward-looking
statements are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. You are cautioned
that such statements are subject to a multitude of risks and
uncertainties that could cause future circumstances, events or
results to differ materially from those projected in the
forward-looking statements as a result of various factors and other
risks, including those set forth in the company's Form 10-K and its
other filings filed with the SEC. You should consider these factors
in evaluating the forward-looking statements included herein, and
not place undue reliance on such statements. The forward-looking
statements in this release are made as of the date hereof and the
company undertakes no obligation to update such
statements.
MetaStat, Inc.
Daniel Schneiderman
Phone: (617) 531-0870
Email: dschneiderman@metastat.com
Source: MetaStat, Inc.