Business
Ehave Announces Asset Purchase Agreement with Zyus and Recapitalization Transactions
Ehave Announces Asset Purchase Agreement with Zyus and Recapitalization Transactions.
About this update from Ehave Inc.
[{"type":"text","content":"\n\n\n\nEhave Announces Asset Purchase Agreement with Zyus and Recapitalization Transactions\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nEhave Announces Asset Purchase Agreement with Zyus and Recapitalization Transactions\n- Zyus to acquire assets relating to \"Ehave Connect\", the Company's health informatics platform.\n- New working capital intended to advance Ehave's development of digital assessments and therapeutic games for children with ADD/ADHD, ASD, and other mental health disorders.\n- Ehave will continue to evaluate merger and acquisition opportunities to maximize shareholder value.\n- Ehave has also entered into agreements with holders of its outstanding promissory notes, warrants, and options to exchange them for shares of Ehave common stock (\"common shares\").\nPR Newswire\nOAKVILLE, Ontario, March 25, 2019\n\n\n\nOAKVILLE, Ontario, March 25, 2019 /PRNewswire/ -- Ehave, Inc. (OTCQB: EHVVF) (\"Ehave\" or the \"Company\") today announced that it has entered into a definitive asset purchase agreement (the \"Asset Purchase Agreement\") with ZYUS Life Sciences Inc. (\"Zyus\"), pursuant to which Zyus will acquire all of the assets and rights relating to Ehave's health informatics platform for a total purchase price of CAD $3.2 million in cash and stock (the \"Asset Sale\"). In addition, Ehave has entered into agreements with the holders of its outstanding promissory notes and warrants to exchange them for common shares. \nAsset Sale\nUnder the terms of the Asset Purchase Agreement, Zyus will acquire Ehave's intellectual property and license, marketing, and development agreements relating to its health informatics platform. Ehave will continue in its development and trials of digital assessments and therapeutic games for children with attention-deficit/hyperactivity disorder (\"ADD/ADHD\"), autism spectrum disorder (\"ASD\"), and other mental health challenges. Ehave's data-rich patient management, assessment, and remediation tools are designed to improve the lives of persons suffering from common mental health disorders. With Ehave, clinicians can make ...