Marvel Biosciences Announces Letter Agreement for Market Stabilization and Liquidity Services | Popgen Tech


Calgary, Alberta–(Newsfile Corp. – December 23, 2022) – Marvel Biosciences Inc. (TSXV: MRVL) and its wholly owned subsidiary, Marvel Biotechnology Inc. (together “company“or”Amazing“), is pleased to announce that it has entered into a Letter of Agreement for Market Stabilization and Liquidity Services (the “Consulting Agreement“) with Mr. Adam Smith of Red Cloud Securities Inc. (“Red Cloud“) to support Marvel’s market stabilization and liquidity activity.

Marvel entered into a Consulting Agreement with Red Cloud effective December 1, 2022, with an initial term of three months, from December 1, 2022 to February 28, 2023. The Consulting Agreement will automatically renew unless terminated by either party. with at least thirty (30) days notice.

Pursuant to the Consulting Agreement, Red Cloud will: (i) use its best efforts to maintain a reasonable and consistent bid and offer spread for Marvel common stock for most of the daily hours of trade; (ii) use best efforts to maintain a reasonable board lot size for the bid and offer, of Marvel common stock listed on the TSX Venture Exchange (“TSXV“) for most daily trading hours; and (iii) provide liquidity as needed (including “Services“). Red Cloud will receive $5,000 per month for the provision of the Services.

Red Cloud does not have any interest, direct or indirect, in Marvel or its securities, nor any right or intention to acquire such an interest. The Consulting Agreement remains subject to regulatory acceptance of applicable filings with the TSXV.

Contact Information

Investor Relations:
Virtus Advisory Group
Tel: 416-644-5081

Marvel Biosciences Corp.
Roderick (Rod) Matheson, Chief Executive Officer or Dr. Mark Williams, President, and Chief Science Officer
Tel: 403 770 2469

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this press release.

All information contained in this news release regarding the Company and its subsidiary, (collectively, the “Parties”) has been provided by Marvel, respectively, to be incorporated herein and the directors and officers of each party will rely on each other for any information about such Party.

This news release may contain forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “expect”, “anticipate” and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements about the Company’s future plans and objectives are forward-looking statements that involve risks and uncertainty. There can be no assurance that such statements will prove to be accurate and actual results and future events may differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations and include other risks detailed from time to time in filings made by the Company under securities regulations.

The reader is cautioned that the assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances could cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which is beyond the Company’s control. As a result, the Company cannot guarantee that the events above in terms will occur and within the time disclosed here or at all. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from expectations. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will publicly update or revise any of the accompanying forward-looking statements that expressly required by Canadian securities law.

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