Bioasis Technologies Inc. Announces Termination Of Arrangement Agreement With Midatech Pharma Plc
Bioasis Technologies Inc. Announces Termination Of Arrangement Agreement With Midatech Pharma Plc
NEW HAVEN, Conn., Jan. 23, 2023 (GLOBE NEWSWIRE) -- BIOASIS TECHNOLOGIES INC. (OTCQB:BIOAF; TSX.V:BTI) (the "Company" or "Bioasis"), a multi-asset rare and orphan disease biopharmaceutical company developing clinical stage programs based on epidermal growth factor and a differentiated, proprietary xB3 ™ platform for delivering therapeutics across the blood-brain barrier ("BBB") and the treatment of central nervous system ("CNS") disorders in areas of high unmet medical need, today announced that it has terminated the arrangement agreement (the "Arrangement Agreement") dated December 13, 2022, as amended December 18, 2022, between Bioasis and Midatech Pharma plc ("Midatech"). The Arrangement Agreement provided for Midatech's acquisition of all of Bioasis' issued and outstanding shares in exchange for ordinary shares of Midatech by way of a statutory plan of arrangement under the laws of British Columbia (the "Arrangement").
康涅狄格州紐黑文，2023年1月23日(Global Newswire)--BiOASIS Technologies Inc.(OTCQB：BIOAF；TSX.V：BTI)(The“公司“或”生物綠洲“)，一家多資產的罕見和孤兒疾病生物製藥公司，開發基於表皮生長因子和差異化的專有xB的臨牀階段計劃3跨越血腦屏障提供治療藥物的™平臺(“BBB“)和治療中樞神經系統(”氯化萘)未得到滿足的高度醫療需求地區的疾病，今天宣佈已終止安排協議(安排協議BiOASIS和Midatech Pharma plc之間於2022年12月13日簽署的，經修訂的協議(Midatech《安排協議》規定，Midatech將根據不列顛哥倫比亞省法律以法定安排計劃的方式收購BiOASIS的全部已發行和流通股，以換取Midatech的普通股。佈置").
One of the conditions precedent to completion of the Arrangement was approval of the Arrangement and a number of related matters by the Midatech shareholders. Midatech has announced that its shareholders did not approve the Arrangement at the general meeting of Midatech shareholders held earlier today.
完成這一安排的先決條件之一是Midatech股東批准這一安排和一些相關事項。Midatech宣佈，其股東在今天早些時候舉行的Midatech股東大會上沒有批准這一安排。
As a result, the Arrangement cannot proceed and Bioasis has provided written notice to Midatech that it has exercised its right to terminate the Arrangement Agreement. Under the terms of the Arrangement Agreement, Midatech is required to make an expense reimbursement payment to Bioasis of US$225,000. A copy of the Arrangement Agreement is available on Bioasis' company profile at .
因此，這項安排無法繼續進行，BiOASIS已向Midatech發出書面通知，稱其已行使終止安排協議的權利。根據安排協議的條款，Midatech必須向BiOasis支付225,000美元的費用補償。安排協議的副本可在BiOASIS的公司簡介中查閲，網址為。
Bioasis is disappointed that the Midatech shareholders did not support the Arrangement, which it believes would have been in the best interests of both companies and their respective stakeholders. With the termination of the Arrangement Agreement, Bioasis will continue to explore and evaluate strategic alternatives to enhance shareholder value, including continuing as a standalone company and evaluating potential strategic transactions or partnerships as well as any financing alternatives that may be available.
BiOasis對Midatech的股東沒有支持這一安排感到失望，它認為這將符合兩家公司及其各自利益相關者的最佳利益。隨着安排協議的終止，BiOASIS將繼續探索和評估戰略替代方案，以提高股東價值，包括繼續作為一家獨立公司，評估潛在的戰略交易或合作伙伴關係以及任何可用的融資替代方案。
Bioasis' existing cash reserves, together with the proceeds of the expense reimbursement payment and the final US$250,000 instalment of the bridge loan payable by Midatech on February 6, 2023, are currently expected to allow Bioasis to continue operations until approximately March 2023. Bioasis will require additional financing to continue as a going concern and to satisfy its ongoing obligations under the convertible security funding agreement between Bioasis and Lind Global Macro Fund, LP ("Lind") and to repay the US$750,000 bridge loan from Midatech and the C$350,000 bridge loan from Lind, both of which mature on June 30, 2023 and are secured by a pledge of all of Bioasis' assets.
BiOasis現有的現金儲備，加上費用償還的收益和Midatech於2023年2月6日應支付的250,000美元的最後一期過橋貸款，目前預計將使BiOasis能夠繼續運營到大約2023年3月。BiOASIS將需要額外的融資，以繼續作為一家持續經營的企業，並履行其根據BiOASIS與Lind Global Macro Fund，LP(Lind Global Macro Fund，LP)之間的可轉換證券融資協議所承擔的持續義務。林德)以及償還Midatech提供的750,000美元過橋貸款和Lind提供的350,000加元過橋貸款，這兩筆貸款都將於2023年6月30日到期，並以BiOasis的所有資產為抵押。
On behalf of the Board of Directors of Bioasis Technologies Inc.
代表BiOasis Technologies Inc.董事會。
Deborah Rathjen, Ph.D., Executive Chair of the Board
Deborah Rathjen，博士，董事會執行主席
Follow on:
Facebook
Instagram
LinkedIn
Twitter
後續內容：
Facebook
Instagram
LinkedIn
推特
BTI-CRP
BTI-CRP
About Bioasis
關於BiOASIS
Bioasis is a multi-asset rare and orphan disease biopharmaceutical company developing clinical stage programs based on epidermal growth factor and the xB3 ™ platform, a proprietary technology for the delivery of therapeutics across the blood brain barrier and the treatment of CNS disorders in areas of high unmet medical need. The delivery of therapeutics across the blood-brain barrier represents the final frontier in treating neurological disorders. The in-house development programs at Bioasis are designed to develop symptomatic and disease-modifying treatments for brain-related diseases and disorders. For more information about the Company, please visit .
BiOASIS是一家多資產罕見和孤兒疾病生物製藥公司，開發基於表皮生長因子和xB的臨牀分期計劃3 ™Platform是一項專利技術，用於通過血腦屏障提供治療藥物，並在高度未得到滿足的醫療需求領域治療中樞神經系統疾病。跨越血腦屏障的治療藥物代表着治療神經疾病的最後前沿。BiOASIS的內部開發計劃旨在為與大腦相關的疾病和障礙開發對症和疾病修改治療。欲瞭解更多有關該公司的信息，請訪問。
Cautionary Statement on Forward-Looking Information
關於前瞻性信息的警示聲明
This press release may contain certain forward-looking statements. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects", "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
本新聞稿可能包含某些前瞻性陳述。在某些情況下，前瞻性陳述可通過使用諸如“計劃”、“預期”、“沒有預期”或“相信”等詞語或這些詞語和短語的變體，或某些行動、事件或結果“可能”、“可能”、“將會”、“發生”或“將會實現”的陳述來確定。
Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Bioasis to control or predict, that may cause their actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the state of domestic and international capital markets; Bioasis' ability to obtain financing; changes in general market conditions; and other risks and uncertainties relating to Bioasis and its business described more fully in Bioasis' filings on SEDAR at .
前瞻性表述和信息會受到各種已知和未知風險和不確定性的影響，其中許多風險和不確定性超出了BiOasis的控制或預測能力，可能導致它們的實際結果、業績或成就與明示或暗示的結果、業績或成就存在實質性差異，這些風險、不確定性和其他因素是基於對本文所述風險、不確定性和其他因素的假設制定的，這些因素包括但不限於國內和國際資本市場的狀況；BiOasis獲得融資的能力；總體市場狀況的變化；以及與BiOasis及其業務相關的其他風險和不確定性，這些風險和不確定性在BiOasis提交給SEDAR的文件中得到了更全面的描述。
Bioasis undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents Bioasis' best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
除適用法律要求外，BiOASIS不承擔更新前瞻性信息的義務。這樣的前瞻性信息代表了BiOASIS基於目前可獲得的信息做出的最佳判斷。任何前瞻性陳述都不能得到保證，未來的實際結果可能大不相同。因此，建議讀者不要過度依賴前瞻性陳述或信息。
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
多倫多證券交易所創業板交易所及其監管服務提供商(該術語在多倫多證券交易所的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。
Contacts:
聯繫人：
Deborah Rathjen, Ph.D., Executive Chair of the Board and CEO
deborah@bioasis.us
203-533-7082
黛博拉·拉特金博士，董事會執行主席兼首席執行官
郵箱：deborah@biasis.us
203-533-7082
Investor Contact:
投資者聯繫方式：
Graeme Dick
Colwell Capital Corp.
graeme@colwellcapital.com
403-561-8989
格雷姆·迪克
科爾韋爾資本公司
郵箱：graeme@colwell capal.com
403-561-8989
譯文內容由第三人軟體翻譯。