121 Aufrufe 121 0 Kommentare 0 Kommentare

Medicure Announces Closing of Asset Purchase Agreement with Canam Bioresearch for Acquisition of Intellectual Property - Seite 2

In the event Medicure retains a contract research organization ("CRO") to provide services related to development of P5P, CanAm, a CRO, would be entitled to tender a bid for such services, in addition to having an opportunity to match quotes for CRO services provided by third-party organizations.

In the event that Medicure does not file an IND Application within 7 years from the closing date of the Transaction, CanAm shall have the option at any time after such date to repurchase the Assets from Medicure, at a price equal to the aggregate of all expenses incurred by CanAm in connection with the development of P5P, but, in any event, not exceeding the sum of $6,500,000. If the option to repurchase the Assets is exercised, such repurchase would be subject to prior TSXV approval.

Further details regarding the terms of the Transaction are set out in the Company's news release dated June 24, 2024, as well as the Agreement, which will be publicly filed by the Company under its profile at www.sedarplus.ca.

All dollars are Canadian dollars unless otherwise noted.

Related Party Transaction

As Medicure's CEO and Chairman of the board of directors, Dr. Albert D. Friesen, is the President and shareholder of the parent company of CanAm, the Transaction constituted a "related party transaction" in accordance with Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Transaction is exempt from the formal valuation and the minority shareholder approval requirements of MI 61-101, as no securities of Medicure are listed or quoted on any of the specified markets listed in section 5.5(b) of MI 61-101 and, at the time the Transaction was agreed to, neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the Transaction, insofar as it involves interested parties, exceeded 25% of Medicure's market capitalization. Medicure did not file a material change report 21 days prior to the expected closing of the acquisition as the Transaction was subject to certain conditions that were only recently satisfied and the timeline for satisfaction of such conditions could not be previously determined.

Seite 2 von 4




Accesswire
0 Follower
Autor folgen
Mehr anzeigen
We’re a newswire service standout and fast becoming an industry disruptor. We provide regional, national and global news to thousands of clients around the world. We’re also leading the way in social engagement, targeting and analytics.
Mehr anzeigen
Verfasst von Accesswire
Medicure Announces Closing of Asset Purchase Agreement with Canam Bioresearch for Acquisition of Intellectual Property - Seite 2 WINNIPEG, MB / ACCESSWIRE / August 14, 2024 / Medicure Inc. ("Medicure" or the "Company") (TSXV:MPH)(OTC PINK:MCUJF), a company focused on the development and commercialization of pharmaceuticals and healthcare products for patients and prescribers …