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VANCOUVER, March 19, 2018 /CNW/ – Cognetivity Neurosciences Ltd. (the “Company” or “Cognetivity”) (CSE: CGN) is pleased to announce that the Canadian Securities Exchange (the “CSE“) has accepted the Company’s listing application to list its common shares on the CSE. The Company’s common shares (the “Common Shares“) have begun trading today on the CSE under the ticker symbol “CGN”.
Cognetivity’s proprietary cognitive testing platform – the Integrated Cognitive Assessment (ICA) – is a technology designed to monitor and provide ultra-accurate early screening for dementia and other related conditions. The platform has been developed using cutting-edge neuroscience and utilizes Artificial Intelligence, which together give it the potential to detect exceptionally early signs of impairment.
In October 2017, the Company raised gross proceeds of C$4.17 million through a non-brokered private placement.
“Cognetivity’s listing on the CSE represents the culmination of a lot of hard work by an exceptional and dedicated team who believe in the considerable potential of our technology and who have taken it from its origins at the University of Cambridge to where we are today.” commented Dr. Sina Habibi, CEO and Director of Cognetivity. “Dementia is a significant and fast-growing issue with a global cost expected to rise above a trillion US dollars this year. The type of early detection we are pioneering comes with the potential to dramatically cut the cost of care and improve the quality of life for sufferers. With our recent financing we have a very strong foundation now in place and are committed to fully executing our clinical and commercial development plan over the coming months.”
The Company has granted 3,600,000 incentive stock options under the Company’s stock option plan to certain directors, officers and consultants. The options are exercisable at a price of $0.25 for a period of five years from the date of grant.
Additional information in respect of Cognetivity’s business is available in its prospectus dated February 28, 2018, available under the Company’s profile on www.sedar.com.
About Cognetivity Neurosciences Ltd.
Cognetivity is a technology company developing a cognitive testing platform, the Integrated Cognitive Assessment (ICA) for use in medical and commercial environments. Cognetivity’s ICA uses Artificial Intelligence and machine learning techniques to help detect the earliest signs of impairment by testing the performance of large areas of the brain, potentially allowing early diagnosis of dementia. Cognetivity aims to develop the ICA through planned clinical studies to the market in North America and Europe.
For more information please visit – www.cognetivity.com
ON BEHALF OF THE BOARD
Chief Executive Officer and Director
FORWARD LOOKING STATEMENTS:
The forward-looking information contained in this press release is made as of the date of this press release and, except as required by applicable law, the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise, except as may be required by law. By its very nature, such forward-looking information requires the Company to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information.
The Exchange does not accept responsibility for the adequacy or accuracy of this release
SOURCE Cognetivity Neurosciences Ltd
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