Business
Zim Corporation Announces New Business Focus
Zim Corporation Announces New Business Focus.
About this update from Zim Corp.
[{"type":"text","content":"\n\n\n\nZim Corporation Announces New Business Focus\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\nZim Corporation Announces New Business Focus\nPR Newswire\nOTTAWA, June 5, 2020\n\n\n\nZim Corporation sells database technology assets – focuses on its bio-medical and other investment activities. \n OTTAWA, June 5, 2020 /PRNewswire/ - Zim Corporation (OTCBB: ZIMCF), a provider of software products and services for the database and mobile markets, today announced the sale of its database technology business as part of management's plan to focus the business on its biomedical subsidiary NuvoBio. The database assets have been purchased by members of Zim Corporation's staff and will operate under the name Zim Databases Canada Inc. Deal terms of the acquisition were not disclosed.\n\n \n \n \n \n \n \n\n \nZim Corporation, which owns 100% of NuvoBio Corporation (established in 2016) as well as minority stakes in other technology investments, will focus on building shareholder value through it bio-medical subsidiary. The company plans to evaluate other strategic investments and commercialization opportunities in emerging healthcare & technology businesses. \n\"The sale of our Database business is a strategic step to focus 100% of our efforts on our biomedical subsidiary, NuvoBio,\" said Dr. Michael Cowpland, President and CEO of Zim Corporation, \"We are very encouraged with the research results that NuvoBio is seeing with its development of cancer therapeutics. We intend to pursue our investment and commercialization activities with NuvoBio as well as other opportunities in biomed and emerging technologies.\"\nABOUT Zim Corporation \nZIM Corporation holding company with diversified investments in the biomedical research and emerging technologies field. The company's investments include research & development of novel cancer therapeutics as well as advanced materials used in 3D printing applications. For more information on ZIM Corporation, visit www.zim.biz. \nThis news release contains forward-looking statements within the meaning of Section 27A of t...