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Thetford Mines, QC – TheNewswire – June 30, 2023 – KDA Group Inc. (TSXV:KDA) (“KDA” or the “Corporation”) is pleased to announce that the Corporation has signed an asset purchase agreement dated June 23, 2023 (the “Asset Purchase Agreement”) with ZoomMed Médical Inc. (“ZoomMed Médical”) pursuant to which the Corporation has agreed to acquire, subject to the fulfillment of certain conditions, the proprietary rights to the ZRx digital prescriber (the “ZRx Prescriber”) to develop, market and operate the ZRx Prescriber worldwide excluding the United States, Europe and the United Kingdom, and excluding Canada, in consideration of 10,000,000 Class A shares (the “KDA Shares”) of KDA’s share capital (the “Transaction”).
Groupe Technologique KDA Inc. (“Tech KDA”), a wholly owned subsidiary of the Corporation, acquired in May 2021 the ownership rights to the ZRx Prescriber to develop, market and operate the ZRx Prescriber in the United States, Europe and the United Kingdom (the “Initial Territory”), in consideration for 20,000,000 Class A shares of KDA’s share capital. If the Transaction is completed, the Corporation expects to transfer its rights in the ZRx Prescriber acquired under the Asset Purchase Agreement to Tech KDA, which will enable Tech KDA to significantly expand the Initial Territory for the operation of the ZRx Prescriber.
The proposed Transaction is expected to close on or before July 28, 2023, and is subject to the fulfillment of certain conditions, including the approval of KDA’s Board of Directors to the Transaction, the approval of the TSX Venture Exchange for the issuance of the KDA Shares and the consent of the shareholders of ZoomMed Inc. (“ZoomMed”), the parent company of ZoomMed Médical. The Transaction will be submitted to ZoomMed shareholders for approval at ZoomMed’s annual and special meeting of shareholders scheduled for July 25, 2023.
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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