Perimeter Medical Imaging AI, (“Perimeter” or the “Company”) – a medical technology company driven to transform cancer surgery with ultra-high-resolution, real-time, advanced imaging tools to address high unmet medical needs – announces that the TSX Venture Exchange (TSX-V) has approved its application to graduate from a Tier 2 Issuer to a Tier 1 Issuer. Tier 1 is reserved for senior TSX-V companies with the most significant financial resources and those that have demonstrated a sustainable business model and operational track record.
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Jeremy Sobotta, Perimeter’s Chief Executive Officer stated, “We are very pleased that the TSX-V has recognized Perimeter’s growth since it became public in 2020. We were already recognized as part of the 2022 TSX Venture 50, and to us this graduation is the natural next step. We look forward to continuing to grow our business and providing value to our shareholders as a Tier 1 company.”
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Important factors included in Perimeter’s successful tier graduation application include the Company’s well capitalized position with cash and cash equivalents of $44,966,273 as of June 30, 2022; Perimeter’s significant intellectual property in its optical tissue imaging system including five issued patents in the U.S. and internationally; and the broadening public distribution of Perimeter’s common shares traded on the TSX-V, OTC and FSE.
With the graduation to Tier 1 listing, Perimeter’s common shares previously deposited into escrow pursuant to TSX-V rules will now be governed by the applicable Tier 1 release provisions. As such, 5,080,959 common shares of Perimeter as well as approximately 687,105 warrants, options or underlying common shares of Perimeter will be eligible for release from escrow immediately, including 5,008,057 common shares held by Perimeter’s largest shareholder, Roadmap Capital.
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