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Helius Medical Technologies, Inc. Announces Singing of Agreement and Plan of Merger with Neurohabilitation Corporation
(via Thenewswire.ca) NEWTOWN, PENNSYLVANIA, TNW-ACCESSWIRE / June 6, 2014 / Helius Medical ...
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[{"type":"text","content":"Helius Medical Technologies, Inc. Announces Singing of Agreement and Plan of Merger with Neurohabilitation Corporation(via Thenewswire.ca)\n \n \nNEWTOWN, PENNSYLVANIA, TNW-ACCESSWIRE / June 6, 2014 / Helius Medical Technologies, Inc. (\"Helius\" or the \"Company\") is pleased to announce that further to the news release dated May 30, 2014, the Company has entered into an agreement and plan of merger dated June 6, 2014 (\"Merger\") whereby the Company has agreed to acquire 100% of the issued and outstanding common shares of Neurohabilitation Corporation (\"Neuro\") by way of a plan of merger (the \"Transaction\"). \n\n \n \nThe Plan of Merger\n\n \n \nPursuant to the Plan of Merger, upon completion of the Transaction (the \"Effective Time\"), all of the common shares in the capital of Neuro (the \"Neuro Common Shares\") will be cancelled and in consideration each holder of Neuro Common Shares will receive that number of common shares in the capital of the Company determined by multiplying the number of Neuro Common Shares held by such Neuro shareholder by 16.0350261 (the \"Share Exchange Ratio\"). Pursuant to the Merger, the Company will issue an aggregate of approximately 35,300,083 common shares to the Neuro shareholders.\n\n \n \nNeuro is a Delaware company, incorporated on January 20, 2013, which is involved in the medical device industry. In January 2013, Neuro entered into an exclusive right agreement whereby Advanced Neuro-Rehabilitation LLC (ANR) granted Neuro exclusive worldwide rights to ANR's patents, trade secrets and knowhow, including a patent pending technology that will enable the first non-invasive means for delivering neurostimulation through the oral cavity (the \"PoNsTM\")\n\n \n \nThe brain's ability to recognize its operation in response to new information sources, new functional needs, or new communication pathways is referred to as Nueroplasticity. Neuroplasticity is a process underlying all cerebral learning, training, and rehabilitation. Neuromodulation is the use of external tactile stimulation to intentionally change and regulate the internal electrochemical environment of the brain. \n\n \n \nTraditional rehabilitation interventions have typically involved medication and various forms of therapies, including physical therapy. The PoNS device is being investigated in combination with Physical Therapy ...