Nuvo Pharmaceuticals Inc NRIFF

RE:RE:Cresccita proposal...

[TurtleNamedSam]

From the news release:

...today announced that it will hold a special meeting of Nuvo's shareholders on February 18, 2016 at which shareholders will be asked to approve the previously announced reorganization of Nuvo into two separate publicly traded companies. ...

The Board of Directors of Nuvo has unanimously approved the proposed transaction and recommends that shareholders vote in favour of the proposed transaction.

The terms of the proposed transaction are set out in an arrangement agreement (and the plan of arrangement appended thereto) that will be available under Nuvo's profile at www.sedar.com within 10 days.  Completion of the proposed transaction is subject to certain conditions, including the approval of the Ontario Superior Court of Justice, the final approval of the Toronto Stock Exchange and the approval of Nuvo's shareholders.  If the proposed transaction is approved by shareholders and all other conditions are satisfied, Nuvo expects the transaction to be completed in Q1 2016.  However, there can be no assurances regarding the ultimate timing of the proposed transaction or that the proposed transaction will be completed at all.  Even if the proposed transaction is approved by shareholders and all other conditions are satisfied, Nuvo's Board of Directors will have the authority to determine when to effect the proposed transaction, as well as the authority to decide not to proceed with the proposed transaction at all.