WPD Pharmaceuticals sp. z o.o. completed the acquisition of Westcot Ventures Corp. (TSXV:WET.H) in a reverse merger transaction.
The transaction is subject to entry into definitive agreement, due diligence investigation, third party approval, shareholder approval, WPD Pharmaceuticals having no indebtedness or liabilities or outstanding convertible securities in the capital of Westcot Ventures, former holders of WPD Pharmaceuticals having entered into escrow agreements, Westcot Ventures having a minimum of CAD 3.2 million in the treasury after payment of all cost, regulatory approvals. The transaction is not subject to approval by the shareholders of Westcot Ventures. A finder's fee of 4.5 million shares of the resulting entity, will be paid to Jason Sundar, an arm's length party, subject to completion of the transaction. The TSX Venture Exchange has accepted Westcot Ventures Corp.'s application to delist its common shares from the TSXV. It is expected that the Delisting will be effective at the close of trading on December 18, 2019. Upon completion, the resulting entity intends to list its common shares on the Canadian Securities Exchange. Westcot Ventures Corp. has received conditional approval from Canadian Securities Exchange to list the resulting issuer shares for trading upon completion of the transaction.
WPD Pharmaceuticals sp. z o.o. completed the acquisition of Westcot Ventures Corp. (TSXV:WET.H) in a reverse merger transaction on December 20, 2019. On December 16, 2019, Westcot announced its intention to delist the Westcot Shares from the TSXV. The Westcot Shares were subsequently delisted from the TSXV on December 18, 2019.