- Magen Ventures (MAGN.P) and Grey Wolf Animal Health have signed an amending agreementto their business combination agreement (BCA) dated March 16, 2022
- The BCA outlines the terms and conditions under which Magen and Grey Wolf will complete a transaction that will result in a reverse take-over of Magen by Grey Wolf
- The first is an extension to the outside date from July 31, 2022 to November 30, 2022
- The second is a change of the consolidation ratio of the Magen common shares from “19.1667 to 1” to “16.6667 to 1”
- Magen Ventures I Inc. is a capital pool company
- Magen Ventures I Inc. opened trading at $0.095
Magen Ventures (MAGN.P) and Grey Wolf Animal Health have signed an amending agreementto their business combination agreement (BCA) dated March 16, 2022.
The earlier agreement outlines the terms and conditions in line with which Magen and Grey Wolf will complete a transaction that will result in a reverse take-over of Magen by Grey Wolf.
The amending agreement has brought some changes to the BCA in two ways. The first is an extension to the outside date from July 31, 2022 to November 30, 2022.
The second is a change of the consolidation ratio of the Magen common shares from “19.1667 to 1” to “16.6667 to 1” or such other ratio as may be agreed to between Magen and Grey Wolf.
The proposed transaction will be an arm’s length transaction, and, if completed, will constitute Magen’s “qualifying transaction”, as defined by in Policy 2.4 of the TSX Venture Exchange.
Grey Wolf is a diversified animal health company founded by Dr. Ian Sandler, an entrepreneurial veterinarian, and led by an experienced pharmaceutical management team.
Magen Ventures I Inc. is a capital pool company.
Magen Ventures I Inc. opened trading at $0.095.
