ConjuChem announces completion of C$5 million non-dilutive capital transaction
August 25, 2009
5.00 Million CAD
On August 25, 2009, ConjuChem Biotechnologies Inc. ("ConjuChem") announced the completion of the transaction providing C$5 million in new, non-dilutive capital to the Company. The Superior Court of Québec has approved the previously announced plan of arrangement (the "Arrangement") under section 192 of the Canada Business Corporations Act (the "CBCA") involving ConjuChem and Colabor Income Fund ("Colabor"), among others, all as fully described in ConjuChem's management information circular dated July 17, 2009.
As part of the transaction, ConjuChem will carry on its business operations as they existed immediately prior to the Arrangement in a new entity, named "ConjuChem Biotechnologies Inc.", owned by the former shareholders of ConjuChem, but with the additional cash received from Colabor.
McCarthy Tétrault LLP represented ConjuChem, with a team co-led by Clemens Mayr and Philippe Leclerc.