Trading on the OTCQB and Appointment of CFO

Argent Biopharma Limited

07 May 2024

 

7 May 2024

Argent BioPharma Ltd.

Argent BioPharma Commences Trading on the OTCQB Venture Market and Appoints CFO

Argent BioPharma Ltd. (Argent BioPharma or the Company), is pleased to announce that its ordinary shares have been approved to trade on the OTCQB Venture Market (OTCQB) in the United States (the U.S.) and commenced trading at the market open on 2 May 2024 under the ticker MGCLF. The Company is in the process of applying to have its symbol changed.

The cross-trading of the Company's ordinary shares on the OTCQB may provide enhanced investor benefits, including easier trading access for certain investors located in the U.S. and greater liquidity due to a broader geographic pool of potential investors. Through trading on the OTCQB, the Company will be able to engage with a wide network of U.S. investors, data distributors and media partners, ensuring that U.S. investors have access to the same level of information and disclosure that is available to investors in Australia, but through U.S. facing platforms and portals. In addition, the OTCQB cross-trading facility will provide U.S. based investors with the ability to access Argent BioPharma's ordinary shares in U.S. dollars during U.S. market hours.

The ability to trade in the Company's existing ordinary shares on the ASX will not be affected by having the OTCQB facility and no new ordinary shares have been issued. Argent BioPharma will continue to make announcements and disclosures to the Australian Securities Exchange through the Market Operating Rules and Listing Rule requirements.

The OTCQB is a leading market for U.S. and international companies in the entrepreneurial and development stage. To be eligible, companies must be current in their financial reporting, pass a minimum bid price test, and undergo an annual company verification and management certification process. As a verified market with efficient access to U.S. investors, OTCQB helps companies build shareholder value with a goal of enhancing liquidity and achieving a fair valuation.

Additionally, the Company is pleased to announce the appointment of Mr Igor Bluvstein as Chief Financial Officer. Mr. Bluvstein has over 15 years of financial leadership positions in the e-commerce, biotechnology, petrochemical, and medical cannabis industries. He served as the CFO at MDD Group, as Regional CFO at Frutarom Industries Ltd. (acquired by International Flavors & Fragrances Inc. (NYSE: IFF), as the CFO of an e-commerce retailer, as a Financial Controller at Mirland Development Corporation PLC, and as a senior auditor at Ernst & Young Global Ltd. Mr. Bluvstein holds a Bachelor of Arts in accounting and economics from the Open University in Israel. He is also a Certified Public Accountant (CPA).

Roby Zomer, Managing Director and CEO of Argent BioPharma, commented: "We are pleased to commence trading of Argent BioPharma's shares on the OTCQB, marking another step forward of rapid progress for the Company".

"Cross-trading on the OTCQB will increase liquidity and significantly enhance the ability of U.S. based investors to access and trade Argent BioPharma's shares during a period in which we are actively progressing our key drug developments".

"Trading on OTCQB will also, we believe, serve to diversify the share register and increase exposure to a broader range of investors".

"I'm also delighted we have been able to appoint someone of Igor's expertise as the Company's CFO, we are all very much looking forward to working with him".

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Authorised for release by the board of directors, for further information please contact:

Argent BioPharma Roby Zomer CEO & Managing Director [phone] [e-mail]	Argent BioPharma Rowan Harland Company Secretary [phone] [e-mail]
UK IR/PR Advisers  IFC Advisory Graham Herring / Tim Metcalfe / Zach Cohen [phone] [e-mail]	UK Brokers Oberon Capital Aimee McCusker / Adam Pollock [phone] [e-mail] [e-mail]

About Argent BioPharma

Argent BioPharma is dedicated to meeting unmet medical needs by combining PolyPharmacology and Nanotechnology, aspiring to be a renowned global leader in the biopharmaceutical sector. Our mission centres on researching and developing ground-breaking treatments for worldwide health issues, guided by strategic principles such as pioneering life science advancements, ensuring global access, fostering continuous innovation, and striving for industry leadership.

 

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