- ScreenPro Security (SCRN) has completed the previously announced acquisition of all of the issued and outstanding shares of Add Biomedical Inc.
- ScreenPro will pay C$3.3M in units
- Add Biomedical has become a wholly-owned operating subsidiary of ScreenPro
- Add Biomedical is a screening company with a focus on breast cancer detection and veterinary diagnostics
- ScreenPro provides turnkey coronavirus screening solutions to the private sector
- ScreenPro Security Inc. (SCRN) opened trading at C$0.055 per share
ScreenPro Security (SCRN) has completed the acquisition of all of the issued and outstanding shares of Add Biomedical Inc.
Add Biomedical is a screening company with a focus on breast cancer detection and veterinary diagnostics. It is working on commercializing its products in North America, which would be aided by ScreenPro’s relationships in distribution and logistics.
Under an amended Share Purchase Agreement with Add Biomedical, ScreenPro will pay C$3.3M in units.
ScreenPro issued 33,000,000 units. Each unit is comprised of one common share priced at $0.15 and one common share purchase warrant exercisable at $0.20 for two years from closing.
Lena Kozovski, CEO of ScreenPro commented on the transaction.
“We are pleased that the acquisition of Add Biomedical is now finalized. This expansion is a strategic acquisition that advances us further into the health screening industry. We are excited for this new addition of the company and look forward to sharing our future plans.”
Add Biomedical has become a wholly-owned operating subsidiary of ScreenPro. Michael Yeung has been appointed as the new director of Add Biomedical, Lena Kozovski as Chief Executive Officer and Paul Haber as Chief Financial Officer.
ScreenPro provides turnkey coronavirus screening solutions to the private sector.
ScreenPro Security Inc. (SCRN) opened trading at C$0.055 per share.
