from the President & CEO of MIP...We had to mention that the transaction will be considered as a RTO because the US company is bigger than Mistral. After closing, MIP shareholders will have less in % than the US Pharma shareholders.
That being said, the company will remain in Dorval, I will stay in place and the same CFO will be there.
As for trading, it will resume after we close the transaction. This is inevitable as we need to fulfill several conditions to close the transaction, including raising a financing which requires us to disclose certain information to potential institutional investors which will not be available to the public for a while. This would create advantages for some which could result in important speculation. To protect everyone from this, the stock will remain halted. This could take around 3 months.
More info will be disclosed in a few weeks from now when we advance towards the closing of the transaction.
Obviously, we think this is an amazing event for Mistral and its shareholders otherwise we wouldn’t do it. We really want to grow this company into something big. In order to achieve this, we always said that we would make acquisitions. Last year we did the Cura Medica acquisition, this year we’re going to do this one. We’ll make more after.
We are following the Axcan strategy. Remember that I have spent 4 years at Axcan (1996-2000) as VP business development. When I was there, we acquired several products and companies, including a US-based company. Recently, Axcan was sold for 1.3 B $. While I don’t know if we will be that successful, we certainly are looking to grow Mistral much more. The US market is inevitable, we need to go there and we have a great opportunity to go right now.
Sincerely,
Bertrand