ScreenPro Completes Acquisition of Concierge Medical Consultants Inc.
Toronto, Ontario--(Newsfile Corp. - November 16, 2021) - ScreenPro Security Inc. (CSE: SCRN) (OTCQB: SCRSF) ("ScreenPro" or the "Company") is pleased to announce that further to its press release dated November 2, 2021, it has closed its acquisition of 100% of Concierge Medical Consultants Inc.'s ("Concierge") issued and outstanding securities (the "Transaction"), pursuant to terms of a share purchase agreement entered into between the Company and Datametrex AI Limited, the sole shareholder of Concierge (the "Vendor") effective November 15, 2021 (the "Definitive Agreement").
Concierge is an arm's length private medical concierge services company incorporated under the laws of British Columbia.
Lena Kozovski, CEO of ScreenPro Security commented: "We are pleased to complete the acquisition of Concierge Medical. Dr. Sharif and I have worked together for the last year on the pandemic and COVID-19 testings, and I look forward to moving Concierge Medical to the next level. Consumers view concierge services as a viable model for future medical care needs, and the completion of this acquisition is a pivotal part of our post pandemic business plan."
Terms of the Transaction
Pursuant to the Definitive Agreement, the Company issued 36,000,000 common shares in the capital of the Company (the "Common Shares") to the Vendor at a deemed price of $0.05 per Common Share for an aggregate purchase price of $1,800,000.
No finder's fee was payable in connection with the Transaction. ScreenPro will not assume any debt of Concierge and the proposed acquisition is not expected to constitute a fundamental change or result in a change of business for the Company, nor is it expected to result in a change of control of the Company within the meaning of applicable securities laws and the policies of the Canadian Securities Exchange (the "CSE").
Operations of Concierge Upon Completion of the Transaction
Concierge has become a wholly-owned operating subsidiary of the Company. The Company has appointed Dr. Jibran Sharif and Ms. Lena Kozovski as the new board of the directors of Concierge, and Dr. Sharif remains as the President of Concierge following the closing of the Transaction. In addition to his role as President of Concierge, Dr. Jibran Sharif has become the Chief Medical Officer of ScreenPro.
About Concierge
Concierge Medical Consultants is a small group of board-certified practicing emergency physicians who think that urgent care does not just happen in an ER or your doctor's office, it can happen anywhere at any time. Dr Jibran Sharif, MD, CCFP EM, RDMS, is the founder and President of Concierge Medical Consultants and grew up in Vancouver. He earned a degree in Economics at the University of British Columbia before graduating with a medical degree and residencies in Emergency Medicine and Ultrasound at the University of Sydney, University of Saskatchewan, and the University of Calgary, respectively. He is a full time Emergency physician in the GVRD and a Clinical lecturer with the faculty of Emergency Medicine at the University of British Columbia.
For additional information, please visit Concierge's website at www.conciergemedical.ca.