Positron Corporation (POSC)

[aapples1992]

Positron Announces Reverse Split of Common Stock

1 hours 8 minutes ago - DJNF

CHICAGO, April 7, 2015 /PRNewswire/ -- Positron Corporation (OTCBB:POSC), a nuclear medicine healthcare company ("Positron" or the "Company"), today announced the approval of its reverse stock split of Positron common stock on a 1-for-400 basis. The Company anticipates the split will be effective on April 8, 2015. At the opening of trading on that day, Positron's common stock will begin trading on a 1:400 reverse split-adjusted basis.

"The completion of this reverse stock split is an important step in Positron's plans as we move forward with a reasonable and easily identifiable capitalization structure. As interests in cardiac PET expands, so will the demand for imaging agents and technology. Positron has infrastructure in
place to supplement the Sr-82 and PET technology market and continues to make progress in key areas of this business. With a significant reduction of debt combined with lower operational costs and a more traditional capitalization structure, we will be able to raise awareness and visibility to cardiac PET and healthcare investors alike," said Corey Conn, Positron's Chief Financial Officer.

As previously disclosed, upon effectiveness of the reverse stock split, every four hundred (400) shares of issued Positron Corporation common stock will be automatically converted into one (1) share of common stock. Positron's symbol will be POSCD for a period of 20 trading days to signify that the stock split has occurred.