CB Scientific, Inc. Concludes its Special Meeting of Stockholders
Commanding shareholder approval better positions management to attain enterprise business objectives going forward
ESCONDIDO, CA / ACCESSWIRE / January 18, 2022 / CB Scientific. Inc. (OTC PINK: CBSC) (“CBSC” or the “Company”) announced today that the company successfully concluded its Special Meeting of Stockholders (“Special Meeting”) on Friday, January 14, 2022, as planned. Votes representing approximately 73% of the total eligible shares were counted, and each of the 5 proposals on the agenda passed by a wide margin. Efforts regarding certain matters including reincorporation of the Company from Oregon to Nevada, pursuant to a merger of the Company with and into a newly formed Nevada corporation and resulting in a change in name of the Company to Cardiac Biotech Solutions, Inc., are expected to commence immediately.
“We were extremely pleased that an overwhelming majority of our shareholders exhibited ample trust and confidence in management’s recommendations to vote accordingly,” said Charles Martin, Chief Executive Officer of CB Scientific, Inc. “Each of these actions were carefully contemplated and deliberately designed to provide the Company with critical tools we require to pursue planned business objectives. Now armed with a clear shareholder mandate, we are ready to move forward without delay.”
“Looking to the future, the Company is now even better positioned for a potential listing on the Nasdaq exchange at the right time,” said Paul Danner, Chairman of CB Scientific, Inc. “With the stockholder-approved increase in common shares, coupled with management’s ability to initiate a reverse stock split should it be necessary, the Company can prudently manage its share price based on current market requirements. To be clear, a reverse stock split will be effected only if it is necessary to satisfy the initial or continued listing standards or requirements of The Nasdaq Capital Market or another national securities exchange.”
As additional new developments occur, CB Scientific, Inc. plans to make timely announcements through press releases and regulatory filings to keep its shareholders, industry participants, and the public markets informed.
About CB Scientific, Inc.
CB Scientific, Inc., through its domestic and international subsidiaries, provides innovative products and services in the ambulatory non-invasive cardiac monitoring space. Our FDA and CE cleared EKG devices, interactive cloud-based acquisition software, and smartphone apps for both iOS and Android platforms provide improved compliance for patients at risk of abnormal heart rhythms, as well as more accurate information for physicians.
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SOURCE: CB Scientific, Inc.