Personally, I'm Looking forward to getting off the

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We have done an extensive and exhaustive survey of the institutional investment community and they have resoundingly indicated that in order for them to buy shares of a Company in the marke t, the Company’s common shares must be listed on a national exchange with a healthy ratio of outstanding shares to authorized shares. We have surveyed the landscape of OTC-only listed companies and have not identified any biotechnology companies with $1B+ valuation that have significant liquidity. We believe the reason for this is because the pool of capital on the OTC is insufficient to support the liquidity of a $1B+ market cap company, as approximately 95% of institutions are prohibited from investing in stocks that are not listed on a national exchange, and of those that are allowed to invest, most cannot invest in penny stocks. This is the reason why we believe it is important to up list to a national exchange in the near-term, so that our shareholders can benefit from an appreciation in the institutional investment interest in Amarantus.

With that being said, we recognize that it is not optimal to up list from a position of weakness, and therefore we will only consider an up list from a position of strength while the Company is making good progress in the market. We believe the milestones we’ve outlined above – for the end of 2014 alone – will put us in that position. However, if we do not believe we have achieved sufficient shareholder value creation, we will consider delaying the up list until such time as the market recognizes our true value.

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