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Gemoscan Canada Inc Announces Proposed Acquisition

Monday, 4 Nov 2013 04:07pm EST 

Gemoscan Canada Inc announced that it has entered into a letter of intent to undertake a two stage transaction resulting in the Corporation acquiring a 100% interest in Physiomed Yorkdale Inc. (PYI) which operates a paramedical clinic in Toronto Ontario. Pursuant to the first phase of the acquisition, the Corporation will enter into an agreement, with the shareholders of PYI (the Vendors), to manage the operation of the PYI business, for the Corporation's own account (Management Contract). In consideration for the Management Contract and the acquisition of $164,000, owed to the Vendors of PYI, (the Debt), the Corporation will pay the Vendors $164,000 by way of shares of Gemoscan, to be priced on the closing of the acquisition of the Management Contract and the Debt. The entering into of the Management Contract is expected to close by November 30, 2013. 

Company Quote

27 May 2014