RE:lots in pipelineThis just might have something to do with it....
1)
Departure Terms
Zomedica has entered into a severance agreement with Mr. Solensky which provides for severance payments to Mr. Solensky in an amount consistent with the terms of his employment agreement. Payments are expected to be made in two tranches on or before mid-January 2020. Zomedica has also entered into a cooperation agreement (the “Cooperation Agreement”) with Mr. Solensky as a significant shareholder of Zomedica (approximately 37% of the outstanding common shares as of the date hereof). The Cooperation Agreement includes the following provisions:
- A restriction on the ability of Mr. Solensky to sell his common shares of Zomedica, subject to permitted exceptions. Exceptions include certain transfers to Equidebt LLC, which has a credit facility with Zomedica, and a transfer process whereby Zomedica is permitted to designate a proposed purchaser of any shares that Mr. Solensky intends to sell.
- A commitment to vote his common shares in support of matters proposed by the Board of Directors at shareholder meetings, including directors proposed for election by the Board.
- Certain restrictions in relation to actions as shareholder, including supporting any person who intends to contest the election of directors of Zomedica or making any proposal in respect of a merger transaction.
The Cooperation Agreement has a term that expires on the second annual shareholder meeting of Zomedica, subject to early termination if Mr. Solensky ceases to own 10% of the outstanding common shares of Zomedica. The above description is subject to the detailed terms of the Cooperation Agreement, which will be filed on Zomedica’s SEDAR profile.
2)
Zomedica Announces $2.5 Million Registered Direct Offering
2020-02-12 05:43 PT - News Release
ANN ARBOR, Mich., Feb. 12, 2020 (GLOBE NEWSWIRE) -- Zomedica Pharmaceuticals Corp. (NYSE American: ZOM) (“Zomedica” or “Company”), a veterinary diagnostic company, announced today that it has entered into a definitive agreement with institutional investors for the issuance and sale in a registered direct offering of 20,833,334 of its common shares at a purchase price of $0.12 per share, for gross proceeds of $2.5 million. The offering is expected to close on or about February 14, 2020, subject to the satisfaction of customary closing conditions.
In addition, in a concurrent private placement, Zomedica will issue to the investors warrants to purchase up to 20,833,334 common shares, which represent 100% of the number of common shares issued in the registered direct offering, with an exercise price $0.20 per share and a five-year exercise period commencing six (6) months of the issuance date.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offerings.
Zomedica currently intends to use the net proceeds from the offering for working capital and general corporate purposes.
I'm going to just keep my opinion to myself. LoL
Cheers!