TSXV: CHIP.H
CALGARY, AB,
Marizyme has a robust IP portfolio for its medical device platform technologies. Its leading technology, DuraGraft®, is currently under pre-submission review with the
The co-founders of My Health Logic:
At this time, the Company will continue to trade as a public entity on the NEX Board of the TSXV ("NEX") and intends to pursue a financing to commence its search for new assets to develop and make an application to the TSXV for a reactivation to Tier 2 of the TSXV from the NEX. The reactivation will be subject to meeting all continued listing requirements of Tier 2 of the TSXV.
Terms of the Transaction
The Transaction was effected by way of a plan of arrangement under the Business Corporations Act (
In connection with the plan of arrangement, Marizyme has issued 4,370,000 Marizyme Shares to the Company ("Initial Share Consideration"). Subsequently, Marizyme will issue 230,000 Marizyme Shares to the Company ("Holdback Share Consideration"). The Initial Share Consideration will be distributed by the Company to the Company's shareholders, less a 5% holdback by the Company to meet solvency requirements and responsibly continue with the operations of Health Logic ("Company Holdback Shares"). Each of the Company's shareholders (other than shareholders who have dissented pursuant to the provisions of the BCBCA) receiving Marizyme Shares will do so in proportion to their pro rata share of total Company Shares issued and outstanding at such time. The record date for the distribution of such Marizyme Shares to the shareholders of the Company will be
The Transaction was unanimously approved by the Board of Directors of the Company. The Board of Directors of the Company has obtained a fairness opinion from
About the Company
Health Logic Interactive is a public entity on the NEX Board of the TSXV ("NEX") and intends to pursue a financing to commence its search for new assets to develop and make an application to the TSXV for a reactivation to Tier 2 of the TSXV from the NEX. The reactivation will be subject to meeting all continued listing requirements of Tier 2 of the TSXV. For more information visit us at our website: www.healthlogicinteractive.com
Further information regarding
Neither the
Cautionary Notes
Certain statements contained in this press release constitute "forward-looking statements". All statements other than statements of historical fact contained in this press release, including, without limitation, the method of distribution of Marizyme Shares to shareholders of the Company; the release of the Holdback Share Consideration in accordance with the Arrangement Agreement; the involvement of the Co-Founders in Marizyme following the close of the Transaction; the listing of the Marizyme Shares on the NASDAQ; the financing to be pursued by the Company; the reactivation of the Company to the TSXV; the expected FDA submissions of DuraGraft; the potential synergies anticipated in connection with the Transaction; and the Company's strategy, plans, objectives, goals and targets, and any statements preceded by, followed by or that include the words "believe", "expect", "aim", "intend", "plan", "continue", "will", "may", "would", "anticipate", "estimate", "forecast", "predict", "project", "seek", "should" or similar expressions or the negative thereof, are forward-looking statements. These statements are not historical facts but instead represent only the Company's expectations, estimates and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements. Additional factors that could cause actual results, performance or achievements to differ materially include, but are not limited to the risk factors discussed in the Company's Management's Discussion and Analysis for the year ended
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