The Property was acquired by
Under the Midex Agreement, Antler has agreed to sell the Property to Midex in consideration of
Accordingly, Sona is entitled to 50% of the Cash Consideration less Antler's Expenses and Midex will register 50% of the Share Consideration in the name of Sona. Each of Antler and Sona entered into an investor rights agreement with Midex in relation to the Midex Shares. The Midex Shares issuable pursuant to the Transaction will be subject to certain resale restrictions and escrow conditions.
We wish to thank Antler for partnering with us to source and execute this Transaction of a non-core asset for Sona. The proceeds of this Transaction will provide additional value to the Company as it pursues the development of its Targeted Hyperthermia Therapy cancer treatment using its proprietary, biocompatible gold nanorods.', Sona's CEO,
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Tel: +1-902-536-1932
Email: david@sonanano.com
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This press release includes certain 'forward-looking statements' under applicable Canadian securities legislation, including statements regarding the receipt of cash proceeds as a result of the Transaction, future liquidity of the common shares of Midex and potential public listing of Midex's common shares. Forward-looking statements are necessarily based upon a number of assumptions or estimates that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements, including the risk that Sona and Siva may not be able to successfully secure animal and human clinical studies, obtain sufficient clinical and other data to submit regulatory submissions, raise sufficient additional capital or develop the envisioned therapy. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Sona disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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