Vexco resumes trading.CALGARY Calgary (kăl`gərē), city (1991 pop. 710,677), S Alta., Canada, at the confluence of the Bow and Elbow rivers. The largest city in Alberta and the fastest-growing major city in Canada, Calgary is a corporate, transportation, and financial , Alberta--(BUSINESS WIRE)--July 25, 1995--Vexco Laboratories Inc. and Ceapro Developments Inc. are pleased to announce that all necessary documents have been filed with the Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). . At Vexco's request trading was halted on April 4th, 1995 to allow for review of the Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. between Vexco and Ceapro by the ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. . Share price at the close of trading was $0.42. Vexco has issued 16,734,500 common shares to Ceapro. The ASE has placed A PERFORMANCE ESCROW escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. on 16,234,500 shares: -5,655,250 shares will be released on a minimum of a 2 million dollar injection of capital into Vexco; -Ceapro shares will be released on the completion of clinical trials of the Diabetes Diagnostic Product, and a contract from a major pharmaceutical company (approximately 6.8 Million). -Or, in the alternative, the release of 2.83 common shares for each $1.00 produced from Vexco's operational net profits. The value to Vexco Laboratories is the following: -$150,000 cash upon signing Letter of Intent; -2 million dollars in future financing; -Over 5 million dollars has been spent in developing unique technology and intellectual property which Vexco has access to for health care product development; -11 million dollar Ceapro affiliated company in Saskatoon Saskatoon (săskət  n`), city (1991 pop. 186,058), S central Sask., Canada, on the South Saskatchewan River. ,
Saskatchewan, will provide the key ingredients for Vexco Health Care
Products;
-Vexco will appoint four new Directors from Ceapro to the Board: Neil Gilliat, Lynne Bigam, Jerry Bigam, and Ken Pilip. The Principals of Ceapro Developments Inc. have an impressive record developing new companies and products. These include key areas in financing all aspects of promotion and product sales necessary in the rapidly evolving international marketplace. In the area of patented and/or proprietary technology, Ceapro possesses and has access to a significant level of unique cereal-based technology which will, when combined with the Vexco patented and/or proprietary technology improve the potential for innovative health care products. Principals of both companies are focusing their energy on the first product resulting from this important strategic alliance...a new Diabetes Screen Product (patent pending). This product, now in its final phase of clinical trials, is designed for early diagnosis of Non-Insulin Dependent Diabetes Mellitus diabetes mellitus Disorder of insufficient production of or reduced sensitivity to insulin. Insulin, synthesized in the islets of Langerhans (see Langerhans, islets of), is necessary to metabolize glucose. In diabetes, blood sugar levels increase (hyperglycemia). . The product is expected to be on the market early in 1996 and present projections indicate an extremely healthy market potential, due in part to the absence of any competing product. As a nutraceutical nu·tra·ceu·ti·cal n. A food or naturally occurring food supplement thought to have a beneficial effect on human health. nutraceutical , this product is a food and therefore lengthy regulatory approvals will not be required. Vexco's outstanding Warrants which are due to expire expire /ex·pire/ (ek-spi´er) 1. to exhale. 2. to die. ex·pire v. 1. To breathe one's last breath; die. 2. To exhale. July 28th, have been extended to August 31st, 1995. -0- Note to Editors: THE ALBERTA STOCK EXCHANGE HAS APPROVED THE INFORMATION CONTAINED HEREIN. CONTACT: Katrina Mesher or Carol Palmason, 403/263-6163 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion