RE:News Yes exactly (bunch of paper) and here is why as in bold and underlined. ($300MIL US)
"Pending regulatory approval for the final share payment, OncoQuest has received a 1% interest-bearing unsecured OQP corporate bond with a face value of USD$175 million which is due on February 24, 2022 and can be extended annually for up to five years. OncoQuest and OQP have agreed that the corporate bond will be replaced with the OQP shares if and when the shares are approved by regulatory authorities to be issued to OncoQuest. On April 20, 2020 , OncoQuest received 30-year noninterest bearing perpetual bonds of OQP with an ascribed value of USD$125 million and convertible into OQP shares at OncoQuest's option." ___________________________________________
OncoQuest Pharmaceuticals Inc. (078590.KQ)
KOSDAQ - KOSDAQ Delayed Price. Currency in KRW
3,890.000.00 (0.00%) At close: 23 March 3:32PM KST
_______________________________________________________________ 1 South Korean won equals
0.0011 Canadian Dollar SPP $4.279 CAN (3890 X 0.0011)
________________________________________________________ $300 Mil US X 1.27 exchange = $381 Mil / $4.279 =
89,039,495 QOP shares owing to OncoQuest
Note: QPT owns 40% of OncoQuest
QPT will own 35,615,798 shares @ $4.29 = $152 + Mil CAN.
_____________________________________________________________________ EDMONTON, April 22, 2020 /CNW/ - Quest PharmaTech Inc. (TSX-V: QPT)
The consideration received by OncoQuest from the transaction, net of transaction fees and expenses and income taxes,
will be distributed to OncoQuest's shareholders, including Quest. Immediately prior to execution of the definitive agreement,
Quest was a 36% shareholder in OncoQuest. As part of the asset transfer agreement, Dual has committed to returning its 2.5 million OncoQuest shares.
As a result, Quest's ownership interest in OncoQuest will increase to over 40%.
Hoping for the best
G1945V