CHECK-CAP FOUNDER STRONGLY RECOMMENDS VOTING AGAINST THE KEYSTONE DENTAL MERGER AND FOR THE SYMETRYX BOARD OF DIRECTORS NOMINEES

Rhea-AI Summary

Symetryx Corporation (SYMX) continues to urge Check-Cap Ltd. (CHEK) shareholders to vote against the Keystone Dental transaction and for the Symetryx slate of director nominees. The company believes that the transaction with Keystone Dental does not provide the maximum value for shareholders and that only with a new, independent Board, shareholders will have the best opportunity to realize the full value of their investment.

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• The announcement contains a disclaimer stating that the actual performance and results of Check-Cap may differ materially from the assumptions and analyses made by Symetryx. This could indicate uncertainty and potential risk for investors.

TORONTO, Dec. 5, 2023 /PRNewswire/ - Today, Symetryx Corporation ("Symetryx") once again encourages our fellow shareholders of Check-Cap Ltd. ("Check-Cap") (NASDAQ: CHEK) to review the news release issued by Yoav Kimchy, PhD, the Founder and former Chief Technology Officer, and shareholder, of Check-Cap, who has stated in an open letter to his fellow shareholders that the value of the Intellectual Property of Check-Cap was, in essence, disregarded and assigned no monetary value when valuing the Keystone Dental transaction. See Check-Cap Founder and Former Chief Technology Officer Issues an Open Letter to His Fellow Shareholders (newsfilecorp.com)

Further to its news release of November 28, 2023, Symetryx continues to urge its fellow Check-Cap Ltd. ("Check-Cap") shareholders to VOTE AGAINST the Keystone Dental and FOR the Symetryx slate of highly qualified and independent director nominees. See Symetryx Today Issues Open Letter to Shareholders In Regard to the Upcoming Annual General Meeting (newswire.ca)

Symetryx is pleased to see that other stakeholders agree that the transaction with Keystone Dental DOES NOT provide the maximum value for shareholders. We once again urge all shareholders to reject the Keystone transaction by voting AGAINST Proposal #1, the Keystone transaction, and to support the Symetryx Board nominees by voting FOR each. Only with a new, independent Board, do we believe, that we shareholders will have the best opportunity to realize the full value of our investment and not give it away to Keystone's investors.

Symetryx has engaged Mackenzie Partners, Inc. to act as an advisor in this matter, we welcome shareholders to reach out to share their views or should they seek clarification on our own. Mackenzie Partners can be reached at 1-800-322-2885 or  bmarese@mackenziepartners.com

Sincerely,

Symetryx Corporation

SPECIAL NOTE REGARDING THIS ANNOUNCEMENT:

THIS ANNOUNCEMENT CONTAINS OUR CURRENT VIEWS ON THE VALUE OF SECURITIES OF CHECK-CAP AND CERTAIN ACTIONS THAT ITS BOARD OF DIRECTORS MIGHT TAKE TO ENHANCE THE VALUE OF ITS COMMON STOCK. OUR VIEWS ARE BASED ON OUR OWN ANALYSES OF PUBLICLY AVAILABLE INFORMATION AND ASSUMPTIONS WE BELIEVE TO BE REASONABLE. THERE CAN BE NO ASSURANCE THAT THE INFORMATION WE CONSIDERED AND ANALYZED IS ACCURATE OR COMPLETE. SIMILARLY, THERE CAN BE NO ASSURANCE THAT OUR ASSUMPTIONS ARE CORRECT. THE ACTUAL PERFORMANCE AND RESULTS OF CHECK-CAP MAY DIFFER MATERIALLY FROM OUR ASSUMPTIONS AND ANALYSES.

THIS ANNOUNCEMENT ALSO REFERENCES THE SIZE OF SYMETRYX'S CURRENT HOLDINGS OF CHECK-CAP. SYMETRYX'S VIEWS AND OUR HOLDINGS COULD CHANGE AT ANY TIME. WE MAY TAKE ANY OF THESE OR OTHER ACTIONS REGARDING CHECK-CAP WITHOUT UPDATING THIS ANNOUNCEMENT OR PROVIDING ANY NOTICE WHATSOEVER OF ANY SUCH CHANGES (EXCEPT AS OTHERWISE REQUIRED BY LAW). WE MAY SELL SOME OR ALL OF OUR CHECK-CAP SHARES AT ANY TIME WITHOUT NOTICE.

FORWARD-LOOKING STATEMENTS:

Certain statements contained in this announcement are forward-looking statements including, but not limited to, statements that are predications of or indicate future events, trends, plans or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties. Due to such risks and uncertainties, actual events or results or actual performance may differ materially from those reflected or contemplated in such forward-looking statements. Forward-looking statements can be identified by the use of the future tense or other forward-looking words such as "believe," "might, "expect," "anticipate," "intend," "plan," "estimate," "should," "could," "may," "will," "objective," "projection," "forecast," "continue," "strategy," "position" or the negative of those terms or other variations of them or by any comparable terminology.

Important factors that could cause actual results to differ materially from the expectations set forth in this announcement include, among other things, the factors identified in the public filings of Check-Cap and other information generally available in the market. Such forward-looking statements should therefore be construed considering such factors, and Symetryx is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. 

View original content:https://www.prnewswire.com/news-releases/check-cap-founder-strongly-recommends-voting-against-the-keystone-dental-merger-and-for-the-symetryx-board-of-directors-nominees-302006659.html

SOURCE Symetryx Corp

FAQ

What is Symetryx Corporation's (SYMX) stance on the Keystone Dental transaction with Check-Cap Ltd. (CHEK)?

Symetryx is urging Check-Cap shareholders to vote against the Keystone Dental transaction and for the Symetryx slate of highly qualified and independent director nominees.

Why does Symetryx believe that the transaction with Keystone Dental does not provide the maximum value for shareholders?

Symetryx believes that the value of the Intellectual Property of Check-Cap was disregarded and assigned no monetary value when valuing the Keystone Dental transaction, as stated in an open letter by Check-Cap's Founder and former Chief Technology Officer.

What action has Symetryx taken in this matter?

Symetryx has engaged Mackenzie Partners, Inc. to act as an advisor and welcomes shareholders to reach out to share their views or seek clarification. Mackenzie Partners can be reached at 1-800-322-2885 or bmarese@mackenziepartners.com.

What disclaimer does the announcement contain?

The announcement contains a disclaimer stating that the actual performance and results of Check-Cap may differ materially from the assumptions and analyses made by Symetryx, and that Symetryx's views and holdings could change at any time without notice.

What is the ticker symbol for Symetryx Corporation and Check-Cap Ltd.?

The ticker symbol for Symetryx Corporation is SYMX, and for Check-Cap Ltd. is CHEK.