Conavi Medical Announces Collaboration with ICP Securities Inc.
Conavi Medical Corp., a company dedicated to creating advanced imaging technologies for minimally invasive cardiovascular procedures, has engaged ICP Securities Inc. This partnership aims to deliver automated market making services, supported by ICP's proprietary algorithm, ICP Premium™. This initiative aligns with the guidelines of the TSX Venture Exchange (TSXV) and awaits their approval.
Details of the Market Making Agreement
The agreement stipulates a monthly fee of C$7,500, in addition to applicable taxes. It is set for an Initial Term of four months, with provisions for automatic renewal each month, unless either party provides written notice at least thirty days prior to the end of the term. Notably, the agreement lacks performance criteria, and no equity compensation is offered in relation to this engagement.
Market Making Impact
ICP will operate at arm's length to Conavi Medical. Their primary role will be to address temporary supply and demand imbalances in Conavi's shares, assuming any costs associated with trading the Company’s stocks. This proactive step is essential for maintaining liquidity in the market, benefiting all shareholders.
About ICP Securities Inc.
Founded in 2023, ICP Securities Inc. is a dealer-member based in Toronto that specializes in automated market making and liquidity provision. Their proprietary algorithm, ICP Premium™, is designed to enhance both quote health and market liquidity, serving a diverse spectrum of public issuers and institutional investors.
Conavi Medical's Innovative Technologies
Conavi Medical has made significant strides in the medical technology sector, focusing on imaging technologies that facilitate cardiovascular procedures. Their flagship product, the Novasight Hybrid™ System, is a groundbreaking device that merges intravascular ultrasound (IVUS) and optical coherence tomography (OCT). This innovation allows for simultaneous and precise imaging of coronary arteries.
Regulatory Approvals
The Novasight Hybrid System has achieved 510(k) clearance from the U.S. Food and Drug Administration and has received regulatory approval from health authorities in Canada, China, and Japan. These approvals reflect rigorous testing and affirm the device's capabilities in clinical settings.
Contact Information for Inquiries
Individuals seeking further information about Conavi Medical or their collaboration with ICP Securities Inc. can reach out to:
Stephen Kilmer
Investor Relations
(647) 872-4849
stephen.kilmer@conavi.com
Stefano Picone
Chief Financial Officer
(416) 483-0100
Frequently Asked Questions
What is the purpose of Conavi Medical's partnership with ICP Securities?
The partnership aims to enhance liquidity by using automated market making services provided by ICP Securities Inc.
How does ICP Securities contribute to Conavi Medical?
ICP Securities will help correct temporary imbalances in the supply and demand of Conavi Medical's shares, promoting a more stable trading environment.
What is the Novasight Hybrid™ System?
The Novasight Hybrid™ System is an innovative device that combines IVUS and OCT imaging technologies for more accurate cardiovascular examinations.
What regulatory approvals has Conavi Medical received?
Conavi Medical's Novasight Hybrid™ System has received approvals from the FDA in the U.S., Health Canada, and equivalent authorities in China and Japan.
Who can I contact for more information about Conavi Medical?
For inquiries, you can contact Stephen Kilmer at (647) 872-4849 or via email at stephen.kilmer@conavi.com.
