QuickCool AB (publ): The Board of QuickCool AB (publ) needs additional time to complete the negotiations on the company's long-term financing
On November 24, 2019, the Board of Directors of QuickCool AB (publ) resolved to withdraw proposals for resolutions at the Extraordinary General Meeting in light of the ongoing negotiations being conducted by the Board on the Company's future financing and operations. The Board has continued to evaluate available financing options and negotiate various arrangements.
The Board needs additional time to analyze and decide on the structure that best takes into account the interests of the shareholders. The Board's previous assessment that the negotiations could be completed within a two-week period has not been met and the Board finds that additional time is needed. The Board estimates that additional time of at least two to three weeks will be needed before the Board lands a decision and has new information to communicate to the market.
Lund 08 December 2019
QuickCool AB (publ)
The Board of Directors
For more information, please contact:
Fredrik Radencrantz, CEO
Phone: 046-286 38 40
This information is such that QuickCool AB is required to make public in accordance with the EU’s market abuse regulation (MAR). The information was made publicly available by the Company’s contact person on 08 December, 2019.
Quickcool is a Swedish medical technology company, whose business concept is to save lives and prevent brain damage in acute ischemia (Inadequate blood supply to the brain) by developing and providing a unique and globally patented cooling system, the Quickcool SYSTEM. Quickcool is active in the fast-growing market, Targeted Temperature Management (TTM), for brain-protective cooling treatment of patients with e.g. acute cardiac arrest and stroke. QuickCool’s solution protects the brain by cooling in the nasal cavity and thus takes advantage of the innate heat exchanger in the nose. QuickCool’s Intranasal method offers gentle and uninterrupted cooling treatment for sedated patients. Quickcool is listed on Spotlight Stock Market and conducts its business at Ideon Science Park in Lund. For more Information, please refer to www.quickcool.se