(TheNewswire)
VANCOUVER, BRITISH COLUMBIA / TheNewswire / April
28 2017 – the board of directors of BioDE Ventures Ltd. (the “
Company ”) approved the Assignment and Assumption Agreement dated April 21, 2017, between the Company
and BIOHEP TECHNOLOGIES LTD., a company organized under the laws of the Province of British Columbia (the “Purchaser”) (the
“Assignment Agreement”).
Pursuant to the Assignment Agreement, the Company assigned the Exclusive License Agreement effective as of
December, 2005 between Migenix, Inc. and Cutanea Life Sciences, Inc. (the “License Agreement”) and certain patents (the “Patents”)
for the price of $450,000 which will be paid by the Purchaser by issuing 540,050 shares of the Purchaser at a price of
$0.833256 per share.
The value of the License Agreement and the Patents of the Company was determined by an independent valuation
consultant.
The value of the shares of the Purchaser was determined by dividing the value of the main assets of the
Purchaser by the number of issued and outstanding shares of the Purchaser.
The Assignment Agreement is subject to the Company completing an amalgamation pursuant to the Amalgamation
Agreement among the Company, Exro Technologies Inc. and 1089001 B.C. Ltd. dated for reference November 7, 2016.
The Company would also like to announce that Mr. Bruce Schmidt resigned as a director of the Company. The
Company wishes to acknowledge and thank Mr. Schmidt for his service to the Company.
Ms. M.A. (Jill) Bodkin was appointed to the board of directors and to the audit committee of the Company.
Ms. Bodkin is the Chair and CEO at Golden Heron Enterprises and the Chair of the Board at Westport
Innovations. Ms. Bodkin is an independent director.
ON BEHALF OF THE BOARD OF DIRECTORS
Chester Shynkaryk
Chief Executive Officer
BioDE Ventures Ltd.
2820 200-Granville Street
Vancouver, B.C. V6C 1S4
Tel: (604) 722-9140
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