OTCQX:GXOCF - Post by User
Post by
pritzon Apr 27, 2006 9:12am
156 Views
Post# 10745604
Dragon-Tex reverse takeover with Med BioGene
Dragon-Tex reverse takeover with Med BioGeneDragon-Tex reverse takeover with Med BioGene
Dragon-Tex (Group) Ltd (C:DTX)
Shares Issued 17,589,133
Wednesday April 26 2006 - Major Transaction Completed
The TSX Venture Exchange has accepted for filing the company's reverse takeover, which includes the following transaction:
Amalgamation
The TSX Venture Exchange has accepted for filing an amended and restated amalgamation agreement dated Jan. 23, 2006, whereby Dragon-Tex (Group) Limited has been acquired by Med BioGene Inc. To facilitate the acquisition, a wholly owned subsidiary of MBG (Newco 2) amalgamated with DT whereby the shareholders of DT exchanged their common shares for common shares of MBG on the basis of two common shares of DT for one common share of MBG. As part of the acquisition, a second wholly owned subsidiary of MBG (Newco 1) completed a brokered private placement for gross proceeds of approximately $2-million. Upon the closing of the amalgamation of Newco 2 and DT, MBG amalgamated with Newco 1 (such amalgamated company being Amalco 1).
Please refer to the company's information circular dated Feb. 27, 2006, for more information.
© 2006 Canjex Publishing Ltd.