MISSISSAUGA, ON, Jan. 20 /PRNewswire-FirstCall/ - Vasogen Inc. (NASDAQ: VSGN; TSX:VAS) today announced that it received a Nasdaq Staff Deficiency Letter on January 13, 2009, indicating that it no longer complies with Nasdaq's independent director requirement as set forth in Nasdaq Marketplace Rule 4350(c)(1) (the "Rule"). The letter was a result of the resignation of a Director, which was announced publicly in a January 6, 2009 press release. Following the receipt of the letter, the Company informed the Nasdaq that it was availing itself of the Foreign Private Issuer Exemption afforded in Marketplace Rule 4350(a)(1) with respect to the Rule, and as a result, on January 15, 2009, the Company received correspondence from the Nasdaq indicating that it complies with the Rule and that the matter is now closed. Nasdaq regulations require the Company to issue a press release to disclose such matters.
Certain statements in this document constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and/or "forward-looking information" under the Securities Act (Ontario). These statements may include, without limitation, plans to complete a sale, merger, acquisition, or other strategic alternative, statements regarding the status of development, or expenditures relating to the Celacade(TM) System or our VP series of drugs including VP015 and VP025, plans to fund our current activities, statements concerning our partnering activities, health regulatory submissions, strategy, future operations, future financial position, future revenues and projected costs. In some cases, you can identify forward-looking statements by terminology such as "may", "will", "should", "expects", "plans", "anticipates", "believes", "estimated", "predicts", "potential", "continue", "intends", "could", or the negative of
|SOURCE Vasogen Inc.|
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