Hoofddorp, the Netherlands, 15 February 2021. IGEA Pharma N.V. (SIX: IGPH) today announced an update on the business combination with Blue Sky Natural Resources LTD (“BSNR”) disclosed for the first time on 8 August 2020.
Closing of the transaction
Subject to receipt of shareholders approvals and satisfaction of certain other conditions customary for a transaction of this type, the closing of the combination is expected within end of April 2021 at the latest. The previously disclosed closing deadline could not be maintained due to the overall lockdowns that slowed down the process.
Post -closing ownership allocation
PKF Italy has been mandated with an independent valuation of BSNR that will form the basis for determining the number of newly issued IGEA shares to be offered and subscribed for by the BSNR shareholders against contribution in-kind of their BSNR shares at the closing of the transaction. The PKF valuation report is expected within end of February 2021.
General meeting approval
All required information is expected to be available in the appropriate form beginning of March 2021 at the latest, following which the parties will seek for approval by their respective general meeting. The extraordinary general meeting of IGEA is expected to be scheduled within April 2021.
The combination will create an EU headquartered and SIX-listed company specialized in high quality cannabidiol (CBD), terpenes, policosanol and plant sterols extraction using supercritical CO2 technology with elevated supply chain standards on raw materials features, titration, pollutants control, and bioavailability for health prevention, pharma, nutraceutical and cosmeceutical solutions.
Prof. Antonello Sannia, Chairman of the Scientific Advisory Board of BSNR “Our hemp flower oleolite is very rich in CBD, with a THC concentration well within limits. The therapeutic potential of CDB is well established, in particular with regard to its anxiolytic, antipsychotic and pain-relieving properties. It also presents anti-inflammatory, antioxidant and neuroprotective effects and has a proved usefulness in various health issues including Alzheimer’s disease, Parkinson’s disease, anxiety-depressive syndrome, cerebral ischemia, rheumatoid arthritis, and many other inflammatory diseases”.
“We are strongly committed to close this combination to create one of the leading European players in the CBD industry, with the confidence of a favorable market momentum that supports our strategy. Thanks to this combination, we will enforce our product development and commercial capabilities, also leveraging on the synergies with the Alzheimer’s prevention set started by IGEA. We are confident that their team will perfectly complement our capabilities” said Maurizio Scuotto, CEO and board member of BSNR.
Vincenzo Moccia, CEO of IGEA “We engaged strongly in this combination because we believe in synergies and advantages for both parties and all stakeholders. The positive expectation boosts our commitment”.
IGEA Pharma N.V. focuses on health-tech and med-tech products and devices. Health-tech products are exclusively preventative. IGEA commercializes an Alzheimer’s prevention set (which includes ’Alz1’, an at-home lab test kit to measure non-bound copper in the blood and a natural dietary supplement branded ‘Alz1 Tab’ designed to reduce blood heavy metals content) and expects to integrate the non-bound copper detection-based pipeline with a diabetes type II prevention set in 2021. Non-bound copper is an expected Alzheimer’s and diabetes type II associated biomarker. Controlling non-bound copper can contribute to reduce the risk of Alzheimer’s and diabetes type II. IGEA furthermore commercializes a COVID19 rapid test for the detection of IgM and IgG SARS-CoV-2 related antibodies. Med-tech products focuses on selected solutions and specialties. IGEA commercializes dry aerosol generators for air and inanimate environmental surfaces sanitization and sterilization and air purification devices.
IGEA is listed on the SIX Swiss Exchange (ticker IGPH) and is headquartered in Hoofddorp, the Netherlands. Find out more at www.igeapharma.nl
Blue Sky Natural Resources LTD is a privately held limited liability company incorporated under UK law specialized in transforming vegetable matrices into innovative and high-tech value products aimed at serving the health, pharma, nutraceutical and cosmeceutical industry.
Maurizio Scuotto, CEO, +41 91 966 49 30, email@example.com
This document does neither constitute an offer to buy or to subscribe for securities of IGEA Pharma N.V. nor a prospectus within the meaning of applicable Swiss laws and regulations or the SIX Swiss Exchange Listing Rules. Investors should make their decision to buy or exercise subscription rights or to buy or to subscribe to shares of IGEA Pharma N.V. solely based on the official prospectus (the “Prospectus”) to be published by IGEA Pharma N.V. in due course. Investors are furthermore advised to consult their bank or financial adviser before making any investment decision.
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