June 22, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — CardioGenics Holdings Inc. (OTCBB: CGNH), developer of the ultra-sensitive analyzer and products for the immunoassay segment of the in-vitro diagnostics market, said it has filed a certificate of change with the Secretary of State of Nevada, which implements a share consolidation of the company's authorized and outstanding common stock on a ten for one basis.

FINRA has completed its review of the share consolidation of CardioGenics Holdings and, based on discussions with FINRA, the company said it anticipates that the share consolidation was effective in the market beginning June 21. The post-consolidation common stock, which currently trades on the OTCBB, has a new CUSIP number and will be assigned a new ticker symbol by FINRA. The new CUSIP number is 14160X 203.

As a result of the share consolidation, the company now has 65 million authorized shares of common stock, of which 24,682,250 common shares are currently outstanding.

In addition, the "Exchangeable Shares" of CardioGenics ExchangeCo Inc., the company's Canadian subsidiary, which are exchangeable at any time into the company's common stock are also in the process of being consolidated on the same 1:10 ratio and will thereafter become exchangeable into 25,064,227 shares of the company's common stock.

Of the total outstanding shares of common stock and "Exchangeable Shares," 5,314,495 shares have been locked-up until September 22, 2011 and 15 million shares have been locked-up until March 15, 2014, in accordance with the terms of lock-up agreements entered into between the company and its directors, and certain officers and stockholders of the company.

Canada-based CardioGenics develops ultra-sensitive analyzers and other products targeting the immunoassay segment of the Point-Of-Care IVD testing market.

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