MISSISSAUGA, Ontario, Aug. 23, 2022 (GLOBE NEWSWIRE) — BioSyent Inc. (“BioSyent”, “the Company”, TSX Venture: RX) is pleased to announce that its Board of Directors (the “Board”) has adopted today a dividend policy in order to establish the terms of reference for the board in its decision-making regarding the declaration of any dividend to be paid to the shareholders of the company.
“The adoption of a dividend policy by the Board of Directors is a significant milestone in our evolution as a company and a formal recognition of the confidence we have in our business, with Q2 2022 marking the 12th anniversary of BioSyent.e consecutive year of profitability” commented Mr. René Goehrum, Chairman of the Board of Directors of BioSyent. “During these 12 years, we have multiplied our sales by more than 25 times, invested and launched new products and continued to generate positive cash flow. As a result, our balance sheet has never been stronger today, even though we have deployed more than $13.5 million since December 2018 through our share buyback program, canceling more than two million ordinary shares for the benefit of all remaining shareholders. We remain focused on our primary strategic objective of revenue growth and will continue to invest in expanding our product portfolio while returning capital to shareholders. We expect to launch an inaugural dividend by the end of 2022.”
About BioSyent Inc.
Listed on the TSX Venture Exchange under the trading symbol “RX”, BioSyent is a profitable, growth-oriented specialty pharmaceutical company focused on in-licensing or acquiring pharmaceuticals and other innovative health products. which have been successfully developed, are safe and effective and have a proven track record of improving the lives of patients. BioSyent supports the healthcare professionals who treat these patients by marketing its products through its community, specialty and international business units.
As of the date of this press release, the Company has 12,213,111 common shares outstanding.
For a direct market quote on the TSX Venture Exchange and other company financial information, please visit www.tmxmoney.com.
For more information, please contact:
Mr. René C. Goehrum
President and CEO
Email: [email protected]
This press release may contain forward-looking information or statements. The contents herein represent our judgment, as of the date of publication, and are subject to risks and uncertainties that may cause actual results or results to differ materially from any forward-looking information or statements. Potential risks may include, but are not limited to, those associated with clinical trials, product development, future revenues, operations, profitability and obtaining regulatory approvals.
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