Coquitlam, British Columbia--(Newsfile Corp. - August 16, 2021) - Captiva Verde Wellness Corp. (CSE: PWR) (OTC: CPIVF) ("Captiva") announces that it proposes to purchase all of the issued and outstanding shares of Binovi Technologies Corp ("Binovi") through a Merger, Asset Purchase or Plan of Arrangement. The proposed offer would be CDN $0.07 worth of Captiva Verde Wellness Corp common shares for each common share of Binovi. This is an unsolicited proposal to be agreed upon by the senior management and board of Binovi and that of the shareholders of each company.
The price offered is a 75% premium to the close of Binovi's shares on Friday, August 13, 2021.
The proposal is subject to complete financial and legal due diligence by Captiva and includes the review of any and all IP, commercial contracts and forensic review of accounting books and records.
Binovi is a world class leader in neuro-visual performance platforms designed to test, analyze, track, and report on individual cognitive performance. It combines hardware, software, specialized expert knowledge, and unique data insights to deliver customized, one-on-one visual training and learning protocols which can enhance the neurocognitive performance. Binovi is used by optometry professionals, sports teams and professional athletes, and schools.
Binovi is focused on the "human performance" market which includes helping identify undiagnosed vision impairment in students and adults, providing rehabilitation for concussion patients or people suffering similar type of injuries, and enhancing the brain functions of high-performance athletes or other demanding professions that require the highest level of cognitive functions.
Binovi's product platform is utilized by over 400 vision therapy professionals, engaging 11,600 users including professional sports teams, Olympic athletes, and various military units around the world.
Jeff Ciachurski, CEO of Captiva Verde states; "1 in 4 people worldwide live with issues related to their vision that go beyond visual acuity. Despite this, ophthalmic treatment primarily focuses on visual acuity issues and disease management, leaving many visual performance issues undiagnosed or mistreated. Binovi was founded to bring attention to these issues, and to help those treating them by providing the tools necessary to bring treatment into the 21st century. A broader vision is vital in how we view the world around us, and we are focused on the importance of developing, protecting, and perfecting that vision."
On Behalf of the Board of Directors
"Jeff Ciachurski"
Jeffrey Ciachurski
Chief Executive Officer and Director
Cell: (949) 903-5906
E-mail: westerwind@shaw.ca
Cautionary Note Regarding Forward-Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.
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