(TheNewswire)
Thetford Mines / TheNewswire / August 28, 2018
- KDA Group Inc. (TSXV: KDA) (“KDA Group” or the
“Corporation”) announced on June 1st, 2018 an agreement with ZoomMed Inc. (TSXV: ZMD) (“ZoomMed”) whereby KDA Group could have obtained the rights to distribute, under a non-exclusive
license, the ZRx Prescriber developed by ZoomMed in the United States. The Corporation and ZoomMed had also announced that they
were hoping to conclude a joint venture agreement in order to unite their expertise for the development and commercialization of
the ZRx Prescriber in the US market.
Within the context of the agreement, KDA Group would have issued ZoomMed 10,000,000 common class A
shares of its share capital (the “Common Shares”) at a deemed value of $1,720,000
CND, based on the average closing price of the Common Shares for the last 52 weeks to April 30th, 2018, being $ 0.172 CND per Common Share.
The agreement and share issuance were subject to obtaining all required approvals, including the
final approval of the TSX Venture Exchange.
The Corporation announces that its board of directors has decided not to proceed with the project
and to terminate the agreement between the Corporation and ZoomMed. Consequently, the Corporation will not issue the Common Shares
to ZoomMed.
About KDA Group
KDA Group is a leading solution and service provider to the pharmaceutical market for the distribution of
generic drugs and specialized solutions. Today, it is a respected name for quality and expertise among pharmacists. Its management
team is guided by a vision of continuing to lead the way in Quebec while extending operations across Canada and internationally.
Additional information on the Corporation is available at www.kdagroup.ca and on SEDAR at www.sedar.com.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This press release from KDA Group contains forward-looking statements. Forward-looking statements
are typically identified by the words assumption, goal, guidance, objective, outlook, strategy, target, and other similar expressions, or
future or conditional verbs such as aim, anticipate, believe, predict, could, expect, intend, may, plan, seek, should, strive,
and will. By their nature, forward-looking statements require
us to make estimates and assumptions and express opinions based on current conditions and anticipated developments, as well as
other factors that Management may deem appropriate under the circumstances. There is inherent uncertainty and significant risk in
these estimates, assumptions, and opinions, particularly of a commercial, economic, and competitive nature, and they are therefore
subject to change. KDA Group cannot guarantee that these estimates, assumptions, and opinions will prove to be
accurate.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press
release.
INFORMATION
Marc Lemieux
Chief Executive Officer
514 622-7370
info@groupekda.ca
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