Thetford Mines, Quebec - TheNewswire - November 18, 2020 - KDA Group Inc. (TSXV:KDA) ("KDA" or the "Corporation") is pleased to announce that the Corporation has signed an exclusive Letter of Intent (the "LOI") with ZoomMed Medical Inc. ("ZoomMed Medical") for the acquisition of the ZRx Prescriber technology asset consisting of its platform and source codes (the "ZRx Prescriber Asset"). KDA aims to develop and use the ZRx Prescriber Asset in the United States and Europe.
KDA has agreed to acquire the ZRx Prescriber Asset in consideration for 20,000,000 Class A shares of its share capital (the "Transaction") on terms and conditions agreed to in the LOI. KDA and ZoomMed Medical are arm's length parties.
The proposed Transaction is expected to close by January 15, 2021. In connection with the closing, KDA will complete its due diligence and the parties will enter into an asset purchase agreement and any other agreements necessary and required by such transaction or requested by regulatory authorities, including in particular an agreement for the development and commercialization of the ZRx Prescriber Asset.
"This Transaction will advantageously propel technological healthcare solutions to the vast U.S. and European market, in addition to accelerating the development of our Elixir420 platform. The expertise of KDA's management and more specifically its subsidiary team, LIV Agency Inc., will definitely be a key strategic element complementary to our success," explained Sylvain Duvernay, Chief Executive Officer of KDA.
"The mission of our subsidiary is to provide excellence at all times through the distribution of educational programs and communications in the medical field, from the development to the implementation of strategies offered to large pharmaceutical companies to improve patient health. With the ZRx technology platform, we will be able to expand our service offerings to healthcare professionals and patients across the vast U.S. and European market," added Mr. Duvernay.
The Transaction is subject to the receipt of all required approvals, including the approval of KDA's Board of Directors and the final acceptance of the TSX Venture Exchange.
The Corporation will issue a subsequent press release to inform on the progress of the Transaction.
ABOUT KDA GROUP
KDA Group is a leading innovation and specialized solution 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.
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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.
Chief Executive Officer
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