CARDIOGENICS HOLDINGS INC. ANNOUNCES A RECORD DATE CHANGE FOR ITS DIVIDEND DISTRIBUTION

Rhea-AI Summary

CardioGenics Holdings announced a dividend distribution of 22.5 million shares of Covidgenics, set for September 13, 2021. A new record date will be disclosed after meeting regulatory requirements. The company specializes in immunoassay technology targeting in-vitro diagnostics, with its QL Care Analyzer capable of running over 200 diagnostic tests. Key innovations include a proprietary silver coating method for enhancing instrument sensitivity.

Positive

• Dividend distribution of 22.5 million shares may enhance shareholder engagement.
• Development of proprietary QL Care Analyzer signals significant advancements in diagnostic technology.

Negative

• Regulatory completion is pending, which could delay the dividend distribution.
• Forward-looking statements indicate potential risks and uncertainties regarding future financial performance.

Caledon, Ontario, Sept. 09, 2021 (GLOBE NEWSWIRE) -- CardioGenics Holdings INC. (OTC PINK: CGNH) announced on September 3, 2021 a record date of September 13, 2021 for its dividend distribution of 22.5 million shares of Covidgenics, a private Canadian company. A new record date for the distribution will be announced, following completion of all necessary regulatory requirements, within the next few days.

About CardioGenics Holdings Inc.

The Company is focused on technology and products targeting the immunoassay segment of the In-Vitro Diagnostic testing market. It has developed the QL Care Analyzer, a proprietary point-of-care immuno-analyzer, which will be capable of running 200+immunoassay diagnostic tests, such as cardiovascular diagnostic tests. As part of its core proprietary technology, the Company has also developed a proprietary method for silver coating paramagnetic microspheres (a fundamental platform component of immunoassay equipment), which improves instrument sensitivity to light.

Safe Harbor Forward-Looking Statements:

This press release may contain forward looking statements that are based on current expectations, forecasts, and assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements.

Words such as “estimate,”“project,”“predict,”“will,”“would,”“should,”“could,”“may,”“might,”“anticipate,”“plan,”“intend,”“believe,”“expect,”“aim,”“goal,”“target,”“objective,”“likely” or similar expressions that convey the prospective nature of events or outcomes generally indicate forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of this press release.

For further information:

Dr. Yahia Gawad- ygawad@cardiogenics.com

FAQ

What is the dividend amount announced by CardioGenics Holdings?

CardioGenics Holdings announced a dividend distribution of 22.5 million shares of Covidgenics.

When is the record date for the dividend distribution by CardioGenics?

The record date for the dividend distribution is set for September 13, 2021.

Are there any risks related to CardioGenics' forward-looking statements?

Yes, the press release indicates risks and uncertainties that could cause actual results to differ from expectations.

What technology does CardioGenics specialize in?

CardioGenics specializes in immunoassay technology for the in-vitro diagnostics market.

When will the new record date for the dividend be announced?

A new record date will be announced following the completion of necessary regulatory requirements.