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Novo Integrated Sciences, Inc. Announces Binding Letter of Intent with Activa Clinics
Novo Integrated Sciences, Inc. Announces Binding Letter of Intent with Activa Clinics.
About this update from Novo Integrated Sciences, Inc.
[{"type":"text","content":"\n \n Novo Integrated Sciences, Inc. (OTCQB:NVOS) (“Novo Integrated Sciences”, \n or the “Company”) and Novo Healthnet Limited (“NHL”), a wholly owned \n subsidiary of the Company, announced today that on November 23, 2018, \n the Company and NHL executed a binding letter of intent (“LOI”) with \n Activa Clinics (“Activa”), a private Canadian company involved in the \n delivery of multi-disciplinary primary healthcare services and programs \n through its seven strategically located Southern Ontario clinics.\n \n \n The LOI contemplates that the Company and NHL will enter into a share \n exchange agreement with Activa and the Activa shareholders, pursuant to \n which NHL will acquire 100% of Activa’s total share capital, \n non-dilutive, and in exchange the Activa shareholders will be issued CAD \n $35,000,000 worth of restricted shares of the Company’s common stock. \n The total number of the Company’s common shares expected to be issued \n for this proposed transaction will be determined by calculating the \n 30-trading day average, based on the period ended November 23, 2018, \n with the application of a market acceptable discount to the determined \n average. If a definitive agreement is not executed by all parties, on or \n before December 31, 2018 or such other date as agreed to by the parties, \n the LOI will terminate.\n \n \n Mr. Robert Mattacchione, Novo Integrated Sciences’ CEO and Board \n Chairman stated, “The addition of Activa’s seven operating clinics to \n NHL’s multi-disciplinary primary healthcare clinic footprint in Canada \n is an exciting step in our expansion strategy. Eliminating Activa as \n marketplace competition, combined with adding Activa’s substantial \n market access, operational procedures expertise and proprietary \n treatment solutions, will greatly enhance NHL’s superior level of \n service and programs offered to our patients. Combining the exemplary \n talent of both the NHL and the Activa management teams will allow for \n greater organic growth and improved efficiencies company wide.”\n \n \n Dr. Neil Dhalla, Activa Clinic’s CEO and President, stated, “Activa has \n built a solid reputation in the rehabilitation field and has grown to \n become one of Cana...