Mirati Therapeutics and MethylGene Announce Completion of Plan of Arrangement
Mirati Therapeutics Begins Operations
San Diego, California and Montreal, Canada, June 28, 2013 – MethylGene Inc. (“MethylGene”) (TSX:MYG) and Mirati Therapeutics Inc. (“Mirati Therapeutics”) today announced the successful completion, effective June 28, 2013, of the previously announced plan of arrangement (the “Arrangement”), whereby, among other things, MethylGene would migrate to the State of Delaware in the United States of America. Under the Arrangement, Mirati Therapeutics, a holding company, has become the ultimate parent corporation of MethylGene and its subsidiaries. Each MethylGene shareholder received one share of Mirati Therapeutics common stock (“Mirati Share”) for every 50 common shares of MethylGene held, having the effect of a 1 for 50 reverse split. In addition, all outstanding warrants and options have become exerciseable for Mirati Shares and the exercise price and the number of common shares issuable thereunder have been proportionately adjusted to reflect the 1 for 50 effective reverse split. The Mirati Shares are expected to commence trading on the TSX on July 3, 2013, under the symbol “MYG”.
© 2020 Pappas Capital, LLC. ALL RIGHTS RESERVED.