VANCOUVER, BC / ACCESSWIRE / Friday July 26, 2019 / Theramed Health Corporation (CSE: TMED, OTCQB: EVAHF) (the “Company”) is pleased to announce the ongoing standstill with its research operator for the medical system has been settled with a mutual termination, settlement and option to acquire 100% of the operator-developer. The parties agreed to a mutual release and cancelling $224,169 of accrued development fees that was payable from the Company. In addition, any business intelligence or know-how in relation to the medical health system that was under development would be made available to the Company. The Company also acquired an option to purchase the operator-developer for $1,000 in addition to 5% in cash payments for a ten year term, resulting from gross revenues generated by the systems or intellectual property of the operator.
UPDATE TO SPINOFF EVENT FOR EGF HEALTH HOLDINGS CORP.
The plan of arrangement as previously announced March 17, 2017, updated July 12, 2019, and July 19, 2019 of its wholly owned subsidiary “EGF HEALTH HOLDINGS CORP.” (“EGF”) as a spin out has been amended to be effective Friday July 26, 2019. EGF Health Holdings Corp.’s new CUSIP is 268470101 and its ISIN is CA2684701014. The plan of arrangement dated February 6, 2017 as voted on, received 100% shareholder approval and the Company received the final court order March 16, 2017. The share conversion exchange will be conducted at a 0.05 conversion rate as approved and voted on under the plan of arrangement circular.
THERAMED HEALTH CORPORATION
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About THERAMED HEALTH
(CSE: TMED, OTCQB: EVAHF)
Theramed Health Corporation - is a technology company focused in the healthcare and life sciences sector to develop a personalized healthcare system. The company has recently been focused on utilizing CBD derived from Hemp as a core component. The company through its subsidiaries has assets and technologies involved in extracting and purifying CBD extracts, creating formulations through its key scientists, and with its medical device technology monitoring capabilities. Theramed’s unique combination of technologies may allow it to be the first to be able to offer a complete quality assured vertically integrated “CBD Health System” for monitoring, dosing, and recording the effects of CBD on your cardiovascular system.
This news release contains forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The company disclaims any intention or obligation to revise or update such statements. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis and other disclosure filings with Canadian securities regulators and on the OTC Markets website which is posted on www.sedar.com, http://thecse.com/en/listings/technology/Theramed-Health-Corporation, and http://www.otcmarkets.com/stock/EVAHF/filings. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither the Canadian Securities Exchange (CSE or CNSX Markets), nor its Regulation Services Provider (as that term is defined in policies of the CSE), or any other regulatory authority accepts responsibility for the adequacy or accuracy of this release. The Company does not undertake to update this news release unless required by applicable law.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities law and may not be offered or sold in the “United States”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.
SOURCE: Theramed Health Corporation