VANCOUVER, BC / ACCESSWIRE / Monday, May 26, 2014 / Auxellence Health Corporation (CSE:AID) (the "Company" or "Auxellence") today announces that it has finalized and signed a letter of intent to acquire the intellectual property for the expert medical system underlying the weight management and acne treatments that it currently has under license. This letter of intent also encompasses manufacturing, systems operations, distribution and additional research and development.
The as part of the acquisition of the intellectual property special warrants or share options convertible up to 45,000,000 common shares of the company will be issued at a price not to exceed $0.14, (the last closing price prior to the signing of this letter of intent); subject to Canadian securities regulations, exchange and shareholder ratification and/or approvals.
The letter of intent also contemplates a separate subsidiary or corporate entity to handle the marketing rights of the expert medical system in other parts of North America. This is yet to be further evaluated by management and any decisions shall be made available to shareholders and the general public immediately upon any definitive arrangements being made.
Additional information will be provided and discussed at the upcoming Annual General and Special Meeting scheduled on June 11th, 2014 for all shareholders of record as of May 2, 2014. Should additional information be required to be sent out in another Information Circular; a new notice of meeting will be called, in order to vote upon any resolutions required at a new Special General Meeting to approve the transaction.
Sydney Au, President & CEO
Auxellence Health Corporation
Phone: (604) 780-3311
About Auxellence Health Corporation
Auxellence is a health technology company that aims to provide high-level online personal health services to consumers, providers and suppliers of OTC (Over-The-Counter) health care products and services, including refining the effectiveness of prescribing services to the OTC (Over-The-Counter) consumer pharmaceutical and natural health industry. The Company is integrating innovative therapeutic and diagnostic (theragnostic) devices (hardware components), along with an interactive Expert System and Recommender "PRESCRIPTOR" engine (software platform) to acquire physiological data for personalized medicine and health solutions to everyday health issues (initially targeting weight management and skin health conditions (acne)).
Disclaimer for Forward-Looking Information Statements in this press release regarding the Company which are not historical facts are "forward-looking statements" that involve risks and uncertainties. Such information can generally be identified by the use of forwarding-looking wording such as "may", "will", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated in such statements due to factors. Except as required by law, the Company does not intend to update any changes to such statements. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. 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 Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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