Singapore Volition Pte Limited ("Volition"), a life sciences company focused on developing blood-based diagnostic tests, today announces the closure of the Share Exchange Agreement with Standard Capital Corporation, a Delaware corporation currently quoted on the OTC Bulletin Board under the symbol SNDC.OB ("Standard Capital"). Upon closure of the Agreement at 10am Pacific Daylight Time on Thursday October 6, 2011, Volition became a wholly-owned subsidiary of Standard Capital. Standard Capital has applied for a name change to VolitionRX Limited and an accompanying change to the trading symbol to VOLN.OB, but will be quoted as SNDC.OB until the changes come into effect.
"We are delighted that we have closed this Share Exchange Agreement with SNDC, and are pleased that the shareholders of Singapore Volition showed such support for us going public with 100% voting in favour of the Agreement," said Cameron Reynolds, CEO of Volition. "We are continuing to make very strong progress in all key areas of company development, and we hope to move up to the NASDAQ small cap exchange or the Amex exchange in the next 12 months upon meeting the necessary listing criteria."
The Board of Directors of VolitionRX Limited following closure of the Share Exchange Agreement are as follows:
- Chairman: Dr. Martin C. Faulkes
- President, CEO & Director: Cameron Reynolds
- Director: Dr. Satu Vainikka
- Director: Guy Archibald Innes
- Director: Dr. Alan Colman
- Director: Kevin John Alexander
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