Wednesday, July 29, 2015
Aequus Pharmaceuticals Inc., a specialty pharmaceutical company with a focus on developing, advancing and promoting differentiated products in Canada, is pleased to announce the completion of the previously announced acquisition of TeOra Health Ltd. (“TeOra”), a privately held Canadian specialty pharmaceutical company (the “Acquisition”). The total consideration for the Acquisition is 420,000 common shares of Aequus (the “Common Shares”) which were issued to TeOra shareholders upon closing, and an additional 2,940,000 Common Shares which will be held in escrow and released based on the achievement of certain milestones and performance targets and additional product launches. If all milestones are met, total consideration for the Acquisition will be the issuance of 3,360,000 Common Shares to TeOra shareholders.
As a result of the Acquisition, Aequus now owns 100% of the issued and outstanding common shares of TeOra.
aequuspharma.ca
