Business
Groupe Technologique KDA Signed an Asset Purchase Agreement With ZoomMed Medical for the Acquisition of ZRX Prescriber for Development and Exploitation in the United States, Europe and United Kingdom
(TheNewswire) Thetford Mines, Quebec - TheNewswire - March 10, 2021 - ...
About this update from Kda Group Inc.
[{"type":"text","content":"Groupe Technologique KDA Signed an Asset Purchase Agreement With ZoomMed Medical for the Acquisition of ZRX Prescriber for Development and Exploitation in the United States, Europe and United Kingdom\n \n \n (TheNewswire)\n \n \n \n Thetford Mines, Quebec -\n \n \n TheNewswire -\n \n \n March 10, 2021\n \n \n -\n \n \n KDA\n \n \n Group Inc. (TSXV:KDA) (“\n \n \n KDA\n \n \n ” or the\n“\n \n \n Corporation\n \n \n ”) is proud to announce, as previously disclosed in its\npress release dated November 18, 2020, that its wholly owned\nsubsidiary, Groupe Technologique KDA Inc. (“\n \n \n Tech KDA\n \n \n ”) has\nentered into an asset purchase and rights assignment agreement (the\n“\n \n \n Asset Purchase\nAgreement\n \n \n ”) with ZoomMed Médical Inc.\n(“\n \n \n ZoomMed\nMédical\n \n \n ”) under which Tech KDA agreed to\nacquire, subject to certain conditions, the ZRx Prescriber and\nownership rights, to develop, commercialize and exploit the ZRx\nPrescriber in the United States, Europe and United Kingdom, in\nconsideration for 20,000,000 Class A shares (the “\n \n \n KDA Shares\n \n \n ”) of\nKDA’s share capital (the “\n \n \n Transaction\n \n \n ”).\n \n \n \n \n The ZRx Prescriber is an electronic prescriber computer\nand mobile software designed and developed by ZoomMed Médical for use\nby healthcare providers who are authorized to prescribe medications\nand other treatments.\n \n \n \n \n According to the Asset Purchase Agreement, 10,000,000\nof the KDA Shares will be held in escrow and released as follows:\n5,000,000 of KDA Shares released on the first anniversary date (12\nmonths) of the closing; and 5,000,000 of KDA Shares released on the\nsecond anniversary date (24 months) of the closing.\n \n \n \n \n The closing of the proposed Transaction is scheduled\nfor March 31, 2021 and is subject to the fulfillment of certain\nconditions including the final approval of the TSX Venture\nExchange.\n \n \n \n \n Tech KDA and ZoomMed Médical are arm’s length\nparties and no finder’s fee is payable in connection with the\nTransaction.\n \n \n \n \n E-Prescribing or electronic prescribing is a technology\nsubstructure that allows physicians and medical practitioners to send\ncomputer-based electronic...