- ScreenPro (SCRN) will acquire Add Biomedical and execute a share consolidation
- Add Biomedical is a screening company with a focus on breast cancer detection and veterinary diagnostics
- It will pay C$5M through an issuance of units
- It will consolidate its shares on a 10-1 basis in an effort to increase its investor base
- ScreenPro provides turnkey coronavirus screening solutions to the private sector
- ScreenPro (SCRN) is unchanged trading at $0.015 per share
ScreenPro (SCRN) will acquire Add Biomedical and execute a share consolidation.
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.
ScreenPro will pay C$5M in 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.
“Add Biomedical is financially secure with over $1M in cash to help its operations,” stated Lena Kozovski, ScreenPro’s CEO. “Further, the working capital infusion will also aid the company in expediting its expansion and growth plans for this year.”
“The ability to use Add Biomedical’s technology in other industries like animal health care represents a large opportunity for ScreenPro and its shareholders,” she added.
ScreenPro will also consolidate its shares on a 10-1 basis to gain increased interest from investors. Post-consolidation trading begins tomorrow.
ScreenPro provides turnkey coronavirus screening solutions to the private sector.
ScreenPro (SCRN) is unchanged trading at $0.015 per share as of 2:30 pm EST.