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Thetford Mines, QC – TheNewswire – June 29, 2023 – KDA Group Inc. (TSXV:KDA) (“KDA” or the “Corporation”) is pleased to announce the total repayment, as of June 28, 2023, of its debts owed to Persistence Capital Partners II, L.P. and Persistence Capital Partners II (International), L.P., (collectively “PCP”) and to Private Debt Partners Senior Opportunities Fund LP (“PDP”).
As previously announced on June 28, 2023, the Corporation sold all the shares of Agence L.I.V. Inc., which was a wholly owned subsidiary of KDA, for an aggregate consideration of thirteen million five hundred thousand dollars (CAN $13,500,000) subject to closing adjustments (the “LIV Transaction”).
KDA used a portion of the proceeds from the LIV Transaction to repay in totality its debts owed to PCP and PDP, as follows:
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to repay all the remaining amount owed to PCP pursuant to the Series B-3 Preferred Shares issued to PCP and the notes held by PCP for an aggregate amount of $5,509,695; and
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to repay all the remaining amount owed to PDP totalling $507,458.31.
Following the full repayment of PCP’s debt by KDA, PCP’s representatives, Messrs. Joshua Chandler and David Lampron, resigned from the board of directors of the Corporation (the “Board of Directors”), effective yesterday, June 28, 2023. Therefore, the Board of Directors is now comprised of Ms. Isabelle Bégin, Messrs. Patrick Fernet, Michael W. Kinley and Marc Lemieux.
ABOUT KDA GROUP
KDA Group is a leader in technological innovations and specialized solutions in the pharmaceutical market. KDA is a corporation that offers quality products and has a respected expertise among the various stakeholders in the pharmaceutical and medical sectors. Its management team is guided by the vision to pursue leading the way in Canada and internationally. Additional information about the Corporation is available at www.kdagroup.ca and on SEDAR at www.sedar.com.
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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
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