Business
Health Logic Interactive Enters into Arrangement Agreement with Marizyme to Sell Wholly-Owned Operating Subsidiary
Health Logic Interactive Enters into Arrangement Agreement with Marizyme to Sell Wholly-O...
About this update from Health Logic Interactive Inc
[{"type":"text","content":"\n \n \n \n Health Logic Interactive Enters into Arrangement Agreement with Marizyme to Sell Wholly-Owned Operating Subsidiary\n \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 \n Canada NewsWire\n \n \n \n \n TSXV: CHIP.H\n \n \n CALGARY, AB,\n \n Nov. 2, 2021\n \n /CNW/ -\n \n Health Logic Interactive Inc\n \n . (\"\n \n Health Logic\n \n \" or the \"\n \n Company\n \n \") (TSXV: CHIP.H) (OTCPK: CHYPF) is pleased to announce that it has entered into a definitive arrangement agreement (the \"\n \n Arrangement Agreement\n \n \") pursuant to which it will sell its wholly-owned operating subsidiary, My Health Logic Inc. (\"\n \n My Health Logic\n \n \") to Marizyme, Inc. (\"\n \n Marizyme\n \n \"), a\n \n Nevada\n \n medical device company publicly-traded on the OTCQB (the \"\n \n Transaction\n \n \"). Under the terms of the Arrangement Agreement, Marizyme will receive all of the issued and outstanding shares of My Health Logic in exchange for 4,600,000 shares of common stock of Marizyme (\"\n \n Marizyme Shares\n \n \"). Upon completion of the Transaction, My Health Logic will be a wholly-owned subsidiary of Marizyme.\n \n \n \n \n \n \n \n \n \n Marizyme has a robust IP portfolio for its medical device platform technologies. Its leading technology, DuraGraft®, is currently under pre-submission review with the United States Food and Drug Administration (\"\n \n FDA\n \n \"). DuraGraft® is approved in 34 countries and has already achieved initial commercial sales in\n \n Europe\n \n and\n \n Asia\n \n . Marizyme intends to pursue a listing on the NASDAQ Stock Market (\"\n \n NASDAQ\n \n \") within the next twelve months.\n \n \n Upon completion of the Transaction, the Company will continue to trade as a public entity on the NEX Board of the TSXV (\"\n \n NEX\n \n \") and intends to pursue a financing to commence its search for new assets to develop and make an application to the TSXV for a reactivation to Tier 2 of the TSXV from the NEX. The reactivation will be subject to meeting all continued listing requirements of Tier 2 of the TSXV.\n \n \n ...