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Quest Pharmatech Inc V.QPT

Alternate Symbol(s):  QPTFF

Quest PharmaTech Inc. is a Canada-based biopharmaceutical company. The Company is developing products to improve the quality of life. The Company is also developing a proprietary MAb AR 9.6 targeting truncated MUC16 as theranostic agents for cancer. The Company has a 42.5% ownership interest in OncoQuest Inc. (OncoQuest), a Canadian biotechnology company developing combinatorial immunotherapy products for the treatment of cancer. OncoQuest’s technology platform included a panel of tumor antigen-specific monoclonal antibodies of the immunoglobulin G (IgG) and E (IgE) class targeting CA125, MUC1, PSA, Her2/neu, CA 19.9 and TAG72; and the application of combinatorial immunotherapy to enhance tumor specific immunity and clinical outcome. It also has a 23% ownership interest in OncoVent Co., Ltd. (OncoVent), which is developing antibody-based immunotherapeutic products for cancer for the Greater China territory.


TSXV:QPT - Post by User

Comment by G1945Von Apr 02, 2021 4:23pm
196 Views
Post# 32932670

RE:News

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.
_____________________________________________________________________

EDMONTONApril 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


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