Bullboard - Stock Discussion Forum Promino Nutritional Sciences Inc. C.MUSL

Alternate Symbol(s): MUSLF

Promino Nutritional Sciences Inc., formerly Element Nutritional Sciences Inc., is a research-driven Canadian nutraceutical company. The Company is specializing in the development of science-based products for the global consumer packaged goods market, with a portfolio focused specifically on muscle health. The Company's lead product, Rejuvenate, is a formulation that is clinically proven to... see more

CSE:MUSL - Post Discussion

Promino Nutritional Sciences Inc. > LOI with Helios Helium - exciting road ahead?

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Post by KidAtHeart on Apr 29, 2024 7:36pm

LOI with Helios Helium - exciting road ahead?

Pursuant to the LOI, Helios will spin out its helium property and sundry assets into a new entity such that Helios's assets will only comprise cash and certain marketable securities. Thereafter, each shareholder of Helios will receive one common share of the company in exchange for each common share of Helios held. Total share consideration is expected to be approximately 36.5 million Promino common shares. The parties and their respective legal and tax advisers will negotiate and execute a definitive agreement setting out the terms and structure for the proposed transaction.

Helios has advanced a bridge loan in the principal amount of $1-million to the company (see news release of the company dated April 19, 2024), which bridge loan is expected to be forgiven on completion of the transaction.

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