Valuation of small molecules $3.8MMid 2020 purchase of their preclinical molecules - top molecules that they have
Terms of the Transaction
Under the terms of the acquisition, the Company will satisfy the aggregate purchase price of up to C$8 million by the issuance of common shares in the capital of Liminal BioSciences to the shareholders of Fairhaven, being Genesys Ventures III LP ("Genesys"), AMORCHEM, LIMITED PARTNERSHIP ("AmorChem LP"), MSBi Valorisation Inc. and The Royal Institution for the Advancement of Learning/McGill University subject to the achievement of certain pre-determined milestones. On the closing date of the acquisition, the Company issued an aggregate of 202,308 common shares in the capital of Liminal, representing C$3.6 million of the aggregate purchase price, to the shareholders of Fairhaven, at a price per share equal to the five-trading day volume weighted average trading price (the "VWAP") of Liminal BioSciences' common shares on the Toronto Stock Exchange (the "TSX"). The remainder of the aggregate purchase price payable by the Company to the sellers is issuable upon, and subject to, achievement of certain pre-determined research and development milestones, with any future shares to be issued at a price per share equal to the five-trading day VWAP of Liminal BioSciences' common shares prior to such milestone events.