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TOPDOGon Aug 04, 2020 9:57am
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Quetcap Enters new agreement to acquire 40% of Spectral Anal
Quetcap Enters new agreement to acquire 40% of Spectral AnalTORONTO, Aug. 04, 2020 (GLOBE NEWSWIRE) -- QuestCap Inc. (“QuestCap” or the “Company”) (CSE:QSC; FRA:34C1) is excited to announce it has entered into an arms’ length agreement to acquire a 40% equity interest in Spectral Analytics, Inc. (“Spectral”). As consideration for the acquisition of the 40% equity interest in Spectral, QuestCap shall issue to certain shareholders of Spectral 10 million QuestCap common shares and also make a conditional payment of US$470,000 to Spectral to fund certain clinical trials. The payment of the US$470,000 is conditional on IRB approval including the submission by Spectral of a successful in vitro study to the US Food and Drug Administration (FDA) for human trials for a combination of two FDA approved drugs. QuestCap shall also receive a warrant to acquire an additional 5% of Spectral for an exercise price of US$150,000 (included in the payment of US$470,000) exercisable following successful future human trial results as determined by QuestCap and as measured by the FDA.
read more here https://www.globenewswire.com/news-release/2020/08/04/2072325/0/en/QuestCap-Announces-Agreement-to-Acquire-40-of-Spectral-Analytics.html