Business
KDA Group Not To Proceed with the Project to Distribute the ZRx Prescriber in the United States
(via TheNewswire) Thetford Mines / TheNewswire / August 28, 2018 - KDA Group Inc. (T...
About this update from Kda Group Inc.
[{"type":"text","content":"KDA Group Not To Proceed with the Project to Distribute the ZRx Prescriber in the United States(via TheNewswire)\n \n \nThetford Mines / TheNewswire / August 28, 2018 - KDA Group Inc. (TSXV: KDA) (\"KDA Group\" or the \"Corporation\") announced on June 1st, 2018 an agreement with ZoomMed Inc. (TSXV: ZMD) (\"ZoomMed\") whereby KDA Group could have obtained the rights to distribute, under a non-exclusive license, the ZRx Prescriber developed by ZoomMed in the United States. The Corporation and ZoomMed had also announced that they were hoping to conclude a joint venture agreement in order to unite their expertise for the development and commercialization of the ZRx Prescriber in the US market.\n\n\n \nWithin the context of the agreement, KDA Group would have issued ZoomMed 10,000,000 common class A shares of its share capital (the \"Common Shares\") at a deemed value of $1,720,000 CND, based on the average closing price of the Common Shares for the last 52 weeks to April 30th, 2018, being $ 0.172 CND per Common Share.\n\n\n \nThe agreement and share issuance were subject to obtaining all required approvals, including the final approval of the TSX Venture Exchange.\n\n\n \nThe Corporation announces that its board of directors has decided not to proceed with the project and to terminate the agreement between the Corporation and ZoomMed. Consequently, the Corporation will not issue the Common Shares to ZoomMed.\n\n\n \nAbout KDA Group \n\n\n \nKDA Group is a leading solution and service provider to the pharmaceutical market for the distribution of generic drugs and specialized solutions. Today, it is a respected name for quality and expertise among pharmacists. Its management team is guided by a vision of continuing to lead the way in Quebec while extending operations across Canada and internationally. Additional information on the Corporation is available at www.kdagroup.ca and on SEDAR at www.sedar.com.\n\n \n \nCAUTION REGARDING FORWARD-LOOKING STATEMENTS\n\n \n \nThis press release from KDA Group contains forward-looking statements. Forward-looking statements are typically identified by the words assumption, goal, guidance, objective, outlook, strategy, target, and other similar expressions, or future or conditional verbs such as aim, anticipate, believe, predict, could, expect, intend, may, plan, seek, should, strive, and will. B...