ChroMedX Completes Acquisition of Automated Ultrafiltration Immunoassay Technology
December 15, 2014
ChroMedX Corp. (CSE: CHX) (OTC: MNLIF) (Frankfurt: EIY2) (the "Company"), a developer of in vitro diagnostics and point-of-care technologies is pleased to announce the it has closed its previously announced acquisition of patent application PCT/CA2013/050935 related to Automated Ultrafiltration Technology and associated intellectual property ("AUF") from InvidX Corp., pursuant to an option agreement dated June 16, 2014 (the "Option Agreement"). As consideration for the acquisition of the AUF the Company has issued 5,474,452 common shares to InvidX Corp. which was determined based on the 20% discount to the 10-day volume weight average price of the Company's shares immediately preceding the date of exercise of the option as per the terms of the Option Agreement.
Furthermore, the Company announces that it has granted an aggregate of 550,000 options to purchase common shares of the Company exercisable at a price of $0.345 per common share and expiring on December 10, 2019, to certain consultants of the Company. The common shares issuable upon exercise of the options are subject to a four-month hold period from the original date of grant.
About ChroMedX Corp.
ChroMedX Corp. is a medical technology company focused on the development of novel medical devices for in vitro diagnostics and point-of-care testing. The devices are protected by the Company's issued US and pending international patents, dealing with blood collection, analysis and plasma/serum processing.
W. Clark Kent
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com.