LAVAL,
QC and CAMBRIDGE,
England, Jan. 26, 2023 /PRNewswire/ - Liminal
BioSciences Inc. (Nasdaq: LMNL) ("Liminal BioSciences" or the
"Company"), announced that a consolidation of all of the issued and
outstanding common shares of the Company ("Common Shares") on the
basis of a consolidation ratio of ten (10) pre-consolidation Common
Shares for one (1) post-consolidation Common Share (the "Share
Consolidation"), will become effective at the opening of trading on
February 1, 2023 (the "Effective
Date"). The Company's current trading symbol will remain unchanged.
The Consolidation was previously approved by the Company's
shareholders at the special meeting of the shareholders held on
January 20, 2023.
About Liminal BioSciences Inc.
Liminal BioSciences is a development-stage biopharmaceutical
company focused on discovering and developing distinctive novel
small molecule therapeutics for inflammatory, fibrotic, and
metabolic diseases using our drug discovery platform with a
data-driven approach. The Company is currently developing GPR84
antagonists and OXER1 antagonists. In addition to these programs,
the Company continues to explore other development opportunities to
add to its pipeline.
Liminal BioSciences has active business operations in
Canada and the United Kingdom.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Some of the forward-looking statements can be identified
by the use of forward-looking words. Statements that are not
historical in nature, including the words "anticipate," "expect,"
"suggest," "plan," "believe," "intend," "estimate," "target,"
"project," "should," "could," "would," "may," "will," "forecast"
and other similar expressions are intended to identify
forward-looking statements. Forward–looking statements include,
among other things, the effective date of the Share Consolidation.
These statements are "forward-looking" because they are based on
our current expectations about the markets we operate in and on
various estimates and assumptions. Actual events or results may
differ materially from those anticipated in these forward-looking
statements if known or unknown risks affect our business or the
Share Consolidation, or if our estimates or assumptions turn out to
be inaccurate. Among the factors that could cause actual results to
differ materially from those described or projected herein include,
but are not limited to, risks associated with general changes in
economic conditions. You will find a more detailed assessment of
these risks, uncertainties and other risks that could cause actual
events or results to materially differ from our current
expectations in the filings and reports the Company makes with the
U.S. Securities and Exchange Commission and Canadian Securities
Administrators, including in the Annual Report on Form 20-F for the
year ended December 31, 2021, as well
as other filings and reports Liminal Biosciences' may make from
time to time. As a result of such risks, we cannot guarantee that
any given forward-looking statement will materialize. Existing and
prospective investors are cautioned not to place undue reliance on
these forward-looking statements and estimates, which speak only as
of the date hereof. We assume no obligation to update any
forward-looking statement contained in this press release even if
new information becomes available, as a result of future events or
for any other reason, unless required by applicable securities laws
and regulations.
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SOURCE Liminal BioSciences Inc.