Thetford Mines, Quebec – TheNewswire – May 11, 2021 – KDA Group Inc. (TSXV:KDA) (“KDA” or the “Corporation”) is pleased to announce that its wholly owned subsidiary, Groupe Technologique Inc. (“KDA Techno”) has completed the acquisition of the ownership rights in the ZRx Prescriber to develop, commercialize and exploit the ZRx Prescriber in the United States, Europe and the United Kingdom, in consideration for 20,000,000 Class A shares (the “KDA Shares”) of KDA’s share capital (the “Transaction”).
The Transaction was executed in accordance with the terms of the asset purchase and rights assignment agreement (the “Asset Purchase Agreement”) concluded with ZoomMed Médical Inc. (“ZoomMed Médical”) previously disclosed by the Corporation in its press release dated March 10, 2021.
The ZRx Prescriber is an electronic prescriber computer and mobile software designed and developed by ZoomMed Médical for use by healthcare providers who are authorized to prescribe medications and other treatments.
The Transaction is effective as of May 10, 2021. Pursuant to the Asset Purchase Agreement, 10,000,000 of the 20,000,000 KDA Shares will be held in escrow and released as follows: 5,000,000 of KDA Shares will be released on the first anniversary date (12 months) of the closing, being May 10, 2022, and 5,000,000 of KDA Shares will be released on the second anniversary date (24 months) of the closing, being May 10, 2023.
KDA Techno and ZoomMed Médical are arm’s length parties and no finder’s fee is payable in connection with the Transaction.
“The Corporation, together with its technology subsidiary KDA Techno are pleased to now own the ZRx Prescriber and the proprietary rights to develop, commercialize and exploit the ZRx Prescriber in the United States, Europe and the United Kingdom. We will benefit from this high-end technology asset and grow our business over the long term by developing international markets currently untapped by KDA Techno,” said Sylvain Duvernay, Chief Executive Officer of KDA.
ABOUT KDA GROUP
KDA Group is a leading technological innovations and specialized solutions provider in the pharmaceutical market. Today, it is a respected name for quality and expertise among the different stakeholders in the pharmaceutical and medical sector. Its management team is guided by a vision of continuing to lead the way in Quebec while extending operations across Canada and internationally. Additional information on the Corporation is available at www.kdagroup.ca and on SEDAR at www.sedar.com.
– 30 –
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
Sylvain Duvernay
Chief Executive Officer
514 622-7370
Copyright (c) 2021 TheNewswire – All rights reserved.