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Galileo Life Sciences, Inc. files application with OTC Markets
TORONTO, ON -- (Marketwired) -- 11/09/16 -- Galileo Life Sciences, Inc. ("the Company") (OTC PINK: MDRM) announced today that it has filed an application with the OTC Markets to have the yield notice removed from its trading symbol. This is the first of several steps that the Company is now taking to get its filings up to date and get back in compliance with the rules governing a fully reporting public company, including making its late periodic filings under the Securities Exchange Act of 1934. Management believes, although there can be no assurance, that the application will be approved in the coming weeks and will enable the Company to pursue investment interest from funds that otherwise could not participate due to delinquent filings.
Galileo further announces that the previously announced merger with Novo Healthnet has been abandoned and that the earlier retention of Glen Vengroff was terminated. At the same time the Company decided to pursue alternative strategies towards getting established in the cannabis space.
Galileo CEO Declan French indicated that this step signifies the beginning of a concerted effort to get the company current with its filings and audited financial statements.
About Galileo Life Sciences, Inc.
Galileo Life Sciences, Inc. is strategically focused on the Health and Wellness industry and plans to leverage the opportunities presented by the regulatory reforms as it pertains to medical marijuana and advanced health and life science and services that nurture innovative solutions to enhance the quality of life for all. Galileo Life Sciences is listed on the OTC Pink Market and currently trades under the ticker symbol MDRM.
