Key Developments: Covalon Technologies Ltd (COV.V)

COV.V on TSX Venture Exchange

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23 Dec 2014
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Latest Key Developments (Source: Significant Developments)

Covalon Technologies Ltd Announces License And Distribution Agreement With Molnlycke Health Care
Monday, 4 Nov 2013 07:20am EST 

Covalon Technologies Ltd announced that it has licensed its antimicrobial silicone adhesive technology to Molnlycke Heath Care. Under the license agreement, Covalon has granted Molnlycke the exclusive rights to exploit Covalon's patent-pending antimicrobial silicone adhesive technology in the field of single-use surgical, wound care and vascular access medical dressings. The parties simultaneously signed a supply and distribution agreement under which Covalon will provide to Molnlycke its United States Food and Drug Administration (FDA) cleared products, SurgiClear and IV Clear, for distribution under the Molnlycke brand.  Full Article

Covalon Technologies Ltd Receives Final TSXV Approval for Previously Announced Private Placement
Friday, 27 Sep 2013 04:45pm EDT 

Covalon Technologies Ltd announced that it has received final approval from the TSX Venture Exchange for its previously announced non-brokered private placement comprised of 750 units (the Units) at a price of $1,000 per Unit for gross proceeds of $750,000, which was announced on August 16, 2013. The Company also announced that, subject to regulatory approval, Covalon has granted 309,500 stock options (options) to directors, officers and staff of the Company. The options issued to directors and officers have an exercise price of $0.85 per common share, will vest over the next three years and are valid for a period of five years from the date of grant. The options were granted in accordance with the Company's stock option plan re-approved by shareholders on June 13, 2013.  Full Article

Covalon Technologies Ltd Announces Non-Brokered Private Placement
Friday, 16 Aug 2013 09:30am EDT 

Covalon Technologies Ltd announced that it intends to complete, subject to the approval of the TSX Venture Exchange, a non-brokered private placement comprised of 750 units (the Units) at a price of $1,000 per Unit for gross proceeds of $750,000. Each Unit will consist of $1,000 principal amount of 12% senior secured convertible debenture (the Debentures and each a Debenture) and 6,452 warrants (each, a Warrant). Proceeds of the private placement will be used by Covalon to fund the market launch of the Company's new products IV Clear and SurgiClear and for general working capital. Each Debenture will be convertible at the holder's option into 6,452 common shares of the Company (the Common Shares) at a conversion price of $0.155 at any time on or prior to the Maturity Date, which will be three years from the closing date. These conversion rights will be subject to standard anti-dilution provisions. The Debentures will bear interest at the rate of 12% per annum and will be direct secured obligations of the Company ranking senior to all indebtedness of the Company. Interest will accrue and be added to the principal amount outstanding under the Debentures. Each Warrant will entitle the holder thereof to acquire one Common Share at an exercise price of $0.155 at any time for a period of three years from the date of the Private Placement.  Full Article

Covalon Technologies Ltd Announces Departure of Chief Financial Officer
Wednesday, 9 Jan 2013 07:30am EST 

Covalon Technologies Ltd announced the departure of its Chief Financial Officer(CFO), Rita Jairam. Mr. Pedlar will become the Company's interim CFO in addition to his duties as President and Chief Executive Officer while the Company searches for a replacement.  Full Article

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