# EDGAR Filing Document

**Accession Number:** 0001450416
**File Stem:** 0001104659-23-025001
**Filing Date:** 2023-2
**Character Count:** 13355
**Document Hash:** 192fa3c8e911d20ea45199ef8b6bbe82
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-025001.hdr.sgml**: 20230224

**ACCESSION NUMBER**: 0001104659-23-025001

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20230224

**ITEM INFORMATION**: Bankruptcy or Receivership

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230224

**DATE AS OF CHANGE**: 20230224

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LexaGene Holdings Inc.
- **CENTRAL INDEX KEY:** 0001450416
- **STANDARD INDUSTRIAL CLASSIFICATION:** SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** A1
- **FISCAL YEAR END:** 0228

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-56456
- **FILM NUMBER:** 23662349

**BUSINESS ADDRESS:**
- **STREET 1:** 500 CUMMINGS CTR., SUITE 4550
- **CITY:** BEVERLY
- **STATE:** MA
- **ZIP:** 01915
- **BUSINESS PHONE:** 800-215-1824

**MAIL ADDRESS:**
- **STREET 1:** 500 CUMMINGS CTR., SUITE 4550
- **CITY:** BEVERLY
- **STATE:** MA
- **ZIP:** 01915

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** STONESHIELD CAPITAL CORP.
- **DATE OF NAME CHANGE:** 20100729

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** STONESHIELD CAPITAL CORP
- **DATE OF NAME CHANGE:** 20081119

?xml version="1.0" encoding="utf-8"?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): **February 24, 2023**

![](tm237766d1_8k-img01.jpg)

**LEXAGENE HOLDINGS INC.**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**British Columbia** | &nbsp;&nbsp;**000-56456** | &nbsp;&nbsp;**None** |
| &nbsp;&nbsp;(State or other jurisdiction of<br> incorporation) | &nbsp;&nbsp;(Commission File<br> Number) | &nbsp;&nbsp;(IRS Employer Identification<br> No.) |

---

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| | |
|:---|:---|
| &nbsp;&nbsp;**500 Cummings Center, Suite 4550<br> Beverly, Massachusetts** | &nbsp;&nbsp;**<u>01915</u>** |
| &nbsp;&nbsp;(Address of principal executive offices) | &nbsp;&nbsp;(Zip Code) |

---

**(800) 215-1824**

Registrant's telephone number, including area code

**Not applicable** (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

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| | |
|:---|:---|
| ◻ | &nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ◻ | &nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ◻ | &nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ◻ | &nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |

---

Securities registered pursuant to Section 12(b) of the Act:

Title of each class <u>Trading Symbol (s)</u> <u>Name of each exchange on which registered</u> <br> <u>N/A</u> <u>N/A</u> <u>N/A</u>

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (Section 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (Section 240.12b-2 of this chapter).

Emerging growth company ⌧

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ⌧

**SECTION 1 – REGISTRANT'S BUSINESS AND OPERATIONS**

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| | |
|:---|:---|
| **Item 1.03** | **Bankruptcy or Receivership** |

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On February 24, 2023, LexaGene Holdings Inc. (the "**Company**") filed for liquidation under Chapter 7 of Title 11 of the United States Code (the "**Bankruptcy Code**") in the United States Bankruptcy Court for the District of Massachusetts (the "**Bankruptcy Court**"), located in Boston, Massachusetts. A Chapter 7 trustee will be appointed by the Bankruptcy Court and will assume control over the assets and liabilities of the Company, effectively eliminating the authority and powers of the Board of Directors of the Company and its executive officers to act on behalf of the Company. The assets of the Company will be liquidated and claims paid in accordance with the Bankruptcy Code.

**SECTION 7 – REGULATION FD**

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| | |
|:---|:---|
| **Item 7.01** | **Regulation FD Disclosure** |

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On February 24, 2023, the Company issued a press release announcing that:

&nbsp;&nbsp;&nbsp;&nbsp;· it has ceased operations, laid off its staff, and filed for liquidation under Chapter 7 of the Bankruptcy
Code;

&nbsp;&nbsp;&nbsp;&nbsp;· such filing will result in the appointment of a federal bankruptcy trustee to wrap up the Company's
affairs; and

&nbsp;&nbsp;&nbsp;&nbsp;· at this time the Company does not expect that any liquidation proceeds realized by the bankruptcy trustee
will be sufficient to satisfy the claims of all creditors, and it is unlikely that the Company's shareholders will be eligible to
participate in any distribution of liquidation proceeds.

A copy of the news release is submitted as Exhibit 99.1 hereto.

**SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS**

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| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |

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**(d)** **Exhibits** 

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| | |
|:---|:---|
| **Exhibit** | **Description** |
| [99.1](tm237766d1_ex99-1.htm) | [Press release dated February 24, 2023](tm237766d1_ex99-1.htm) |
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document) |

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **LEXAGENE HOLDINGS INC.**  | **LEXAGENE HOLDINGS INC.**  |
| **DATE: February 24, 2023** | By: | /s/Jack Regan |
|  |  | **Dr. Jack Regan** |
|  |  | **Chief Executive Officer** |

---

## Exhibit 99.1

**Exhibit 99.1**

![](tm237766d1_ex99-1img01.jpg)

**LexaGene Files for Chapter 7 Bankruptcy**

BEVERLY, Mass. USA – Feb 24, 2023 – LexaGene Holdings, Inc., (OTCQB: LXXGF; TSX-V: LXG) ("LexaGene" or the "Company"), announces that it has ceased operations, laid off its staff, and, together with its direct subsidiary LexaGene, Inc., and its indirect subsidiary Bionomics Diagnostics, Inc., filed a voluntary petition for relief under Chapter 7 of the U.S. Bankruptcy Code. The filing, which took place earlier today at the U.S. Bankruptcy Court for the District of Massachusetts, located in Boston, Massachusetts, will result in federal appointment of a bankruptcy trustee to liquidate the Company's assets and distribute any proceeds.

Dr. Jack Regan, LexaGene's CEO and founder, stated, "Despite our best efforts, we were unable to secure the necessary funding to continue our operations. Accordingly, the board of directors has exercised its business judgment to commence liquidation proceedings for the Company. My staff and I have truly given our best effort to make this company a success. Unfortunately, market conditions, lack of technology adoption, and the lengthy sales cycle in the biopharma industry have been too much to overcome. We regret the impact this will have on our investors, customers, and employees."

The financial results of the liquidation, which is now in the hands of the Bankruptcy Court, are beyond the Company's control and inherently uncertain. At this time the Company does not expect that any liquidation proceeds realized by the bankruptcy trustee will be sufficient to satisfy the claims of all creditors, and it is unlikely that the Company's shareholders will receive any distribution of any liquidation proceeds.

The Company does not intend to undertake any proceedings under the *Companies' Creditors Arrangement Act* (Canada) or other similar proceedings in Canada.

At this time, the Board of Directors of the Company remains intact, and the Company does not intend to seek a voluntary delisting from the TSX Venture Exchange.

**About LexaGene Holdings Inc.** 

LexaGene is a molecular diagnostics company that has commercialized the MiQLab System for fast and easy detection of biological contaminants, pathogens and other molecular markers. The System is designed for on-site usage and uses real-time PCR chemistry. Our customers include biopharmaceutical companies and veterinary hospitals. The MiQLab System delivers excellent sensitivity, specificity, and breadth of detection.

**Reader Advisory**

*The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.*

**LexaGene** \| 500 Cummings Center, Suite 4550, Beverly, Mass., 01915 \| T 800.215.1824 \| info@lexagene.com

![](tm237766d1_ex99-1img01.jpg)

*Except for statements of historical fact, this news release contains certain "forward-looking information" or "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur and include statements relating to the continued listing of the Company's common shares on the TSX Venture Exchange, the outcome of the Chapter 7 bankruptcy case referred to above, any event occurring in the Chapter 7 case (including any disposition of assets, allowance or disallowance of claims, sale or other disposition of assets, granting or denial of a request by any secured creditor for permission to conduct a foreclosure sale of assets subject to a lien, or any distributions to creditors or shareholders), or any other matter within the control of the bankruptcy court, the bankruptcy trustee or any other person. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.*

 

*Forward-looking information is based on the opinions and estimates of management at the date the statements are made, including assumptions with respect to the outcome of the Chapter 7 case, any event occurring in the Chapter 7 case (including any disposition of assets, allowance or disallowance of claims, sale or other disposition of assets, granting or denial of a request by any secured creditor for permission to conduct a foreclosure sale of assets subject to a lien, or any distributions to creditors or shareholders), or any other matter within the control of the bankruptcy court, the bankruptcy trustee or any other person.*

 

*Our forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: the outcome of the Chapter 7 case, any event occurring in the Chapter 7 case (including any disposition of assets, allowance or disallowance of claims, sale or other disposition of assets, granting or denial of a request by any secured creditor for permission to conduct a foreclosure sale of assets subject to a lien, or any distributions to creditors or shareholders), or any other matter within the control of the bankruptcy court, the bankruptcy trustee or any other person, the potential for a listing review by the TSX Venture Exchange" and the other risk factors disclosed in our filings with the SEC and under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.*

*The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.*

*###*

**LexaGene** \| 500 Cummings Center, Suite 4550, Beverly, Mass., 01915 \| T 800.215.1824 \| info@lexagene.com