TORONTO -- Artaflex announced today that it has completed its going private transaction previously announced on Mar. 26, 2013.

Artaflex has filed articles of amendment effecting a consolidation of its common shares on the basis of 1 post-consolidated common share for each 2.5 million preconsolidated common shares. The consolidation has resulted in all of the shareholders of Artaflex (except for Artaflex Holdings)) holding a fractional interest in the post-consolidated common shares of Artaflex. As fractional shares will not be issued, each shareholder of Artaflex will receive $0.05 in cash for each preconsolidated common share held immediately prior to the consolidation in lieu of certificates for fractional post-consolidated common shares.

AHI is now the sole shareholder of Artaflex holding approximately four common shares. Artaflex obtained the required shareholder approvals to effect the consolidation at its recent annual and special meeting of shareholders held on Apr. 23.

It is expected that Artaflex's common shares will be delisted from TSX Venture Exchange at the close of trading on or about Apr. 29.

Artaflex went public as part of a reverse merger with fellow EMS Adeptron in 2012.

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