Monarch Energy Announces Completion of Acquisition of ChroMedX
June 30, 2014
Monarch Energy Limited (“Monarch” or the “Company”) – are pleased to announce that the Company
has completed the previously announced consolidation of its common shares (the “Common Shares”)
and has completed the acquisition of all of the issued and outstanding common shares of ChroMedX Ltd.
(“ChroMedX”) (the “Acquisition”). The Company will now proceed to submit final documentation for
listing on the Canadian Securities Exchange (“CSE”) (as previously announced on December 20, 2013,
May 26, 2014 and June 16, 2014) (the “Transaction”). The Company expects to list on the CSE on or
around July 7, 2014.
Additional details on the Transaction can be reviewed in the press releases of the Company issued on
December 20, 2013, May 26, 2014, June 16, 2014 and June 27, 2014.
As one of the conditions to listing on the CSE, the Company also announces that ChroMedX has
completed the minimum $400,000 financing required by the CSE by raising gross proceeds of
As a result of completion of the Acquisition, each former ChroMedX shareholder is entitled to receive
one (1) Monarch Common Share, following a 1:20 consolidation of the Monarch Common Shares which
was effected today, for every one (1) common share of ChroMedX held. This will result in former
ChroMedX shareholders acquiring ownership and control of 24,675,100 Common Shares, representing
approximately 83% of the issued and outstanding Common Shares in the capital of Monarch. In addition,
an aggregate of 5,925,000 share purchase warrants of ChroMedX remain outstanding following the
Transaction and now entitle the holders to acquire Monarch Common Shares in lieu of ChroMedX
common shares based on the same terms and conditions as originally contemplated.
In connection with the Transaction, the Company’s directors and officers are now as follows:
Wayne Maddever – President, Chief Executive Officer and Director;
Gerard Edwards – Director;
James Samsoondar – Chief Science Officer and Director;
George Langdon – Director;
Chris Hopkins – Chief Financial Officer; and
Chris Irwin – Corporate Secretary
The Company will not be changing its name at this time, however, upon completing the listing of the
Common Shares on the CSE the trading symbol in connection with the Acquisition will be “CHX” and
the Company will seek to change its name at the next annual and special meeting to “ChroMedX Ltd.”, or
such other name as the board of directors determine.
A Letter of Transmittal with respect to the consolidation will be mailed to the shareholders of the
Company describing the process by which shareholders may obtain new certificates representing their
post-consolidated Common Shares.
The Company will now focus its efforts on developing its patents and patents pending (the “Patents”)
which were acquired through the Acquisition. The Patents relate to developing novel medical devices for
Point of Care Testing (“POCT”), blood sample collection, and serum/plasma treatment and analysis. The
patents were developed by Dr. James Samsoondar, a clinical biochemist, and the Company’s Chief
Science Officer, and represents technologies for the POCT and In Vitro Diagnostic market.
About Monarch Energy
Monarch is a reporting issuer that, subject to certain conditions precedent from the CSE, will have its
common shares listed on the CSE under the symbol “CHX” on or around July 7, 2014. The core
asset of the Company are Patents that relate to developing novel medical devices for POCT, blood
sample collection, and serum/plasma treatment and analysis.
For further information, please contact Wayne Maddever, CEO at 647-872-9982 or Clark Kent, Corporate
Development, 647-519-2646, email@example.com Website: www.monarchenergy.ca
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