Meridex Announces Agreement to Acquire Biogen Sciences Inc.
17 May 2014 - 5:00AM
Marketwired
Meridex Announces Agreement to Acquire Biogen Sciences Inc.
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 16, 2014) -
Meridex Software Corp. ("Meridex") (TSX-VENTURE:MSC.H) is pleased
to announce that it has entered into a binding Share Purchase
Agreement to acquire Biogen Sciences Inc. ("BSI"), a privately held
B.C. biopharmaceutical company focused on drug discovery and
development of the therapeutic science of cannabinoids.
Under the terms of the agreement Meridex will purchase 100% of
the outstanding equity of BSI by issuing 4,000,000 million shares
and, upon completion of the transaction, Biogen will become a
wholly owned subsidiary of Meridex.
"This is a compelling strategic opportunity for Meridex," said
Craig Schneider, President & CEO. "By acquiring BSI we are
positioning our company to capitalize not only on the surge of
investor interest in the medical marihuana space but also the
continuing strong growth in the life-science sector. With nearly $3
billion dollars being raised for Canadian companies in 2013 within
the life science sector we are confident being a part of this space
will allow us to accelerate our shareholder growth and create
value.
"To reflect the company's new direction and reflect our new
business strategy we have changed our name to 'Cannabis
Technologies Inc.'." Additional information can be found on the
company at www.cannabis-tech.com.
ABOUT BSI
BSI is a private biopharmaceutical drug discovery and
development company uniquely focused on the therapeutic potential
of cannabinoids. The company consists of two divisions:
Drug Discovery &
Development - BSI is utilizing its proprietary
"Cannabinoid Drug Design Platform" to identify new
bioactive compounds within the marijuana plant that interact with
certain gene responsible for specific diseases. BSI's extensive
research and intellectual properties will initially be focused on
the development of several new cannabinoid based treatments for
glaucoma, cancer & angiogenesis, Inflammation and pain.
Cultivation &
Breeding - BSI's botanical research division has begun the
research & development into the individual strains and clones
that will produce the raw material bases for future pharmaceutical
research. To comply with the demands of the Pharmaceutical
industry, a phytopharmaceutical feedstock must meet high
expectations regarding the minimum and maximum content of a range
of compounds. Cultivation techniques and pharmaceutical levels of
exacting chemical consistency are critical for all applications to
regulatory authorities.
ON BEHALF OF THE BOARD
Craig Schneider, President and CEO
Forward-Looking Statements
This news release may contain forward-looking statements and
information based on current expectations. These statements should
not be read as guarantees of future performance or results. Such
statements involve known and unknown risks, uncertainties and other
factors that may cause actual results, performance or achievements
to be materially different from those implied by such statements.
Although such statements are based on management's reasonable
assumptions, there can be no assurance that such assumptions will
prove to be correct. We assume no responsibility to update or
revise them to reflect new events or circumstances.
Additionally, there are known and unknown risk factors which
could cause Meridex Software's actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking information contained herein.
All forward-looking information herein is qualified in its
entirety by this cautionary statement, and Meridex Software
disclaims any obligation to revise or update any such
forward-looking information or to publicly announce the result of
any revisions to any of the forward-looking information contained
herein to reflect future results, events or developments, except as
required by law. These risks and uncertainties include, among
others, the possibility that clinical trials will not be
successful, or be completed, or confirm earlier clinical trial
results, risks associated with obtaining funding from third
parties, risks related to the timing and costs of clinical trials
and the receipt of regulatory approvals
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of the release.
Meridex Software Corp.Craig SchneiderPresident and
CEO604.669.7207604.683.2506www.cannabis-tech.com
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