VANCOUVER, British Columbia, February 17, 2023 -- Biocure Technology Inc. (“Biocure” or the “Company”) (CSE:CURE) announces today that, further to its press releases dated February 7, 2023 and December 19, 2022, the Company’s shareholders have approved the sale of 1,773,879 common shares and 57,954 preferred shares (the “Shares”) of BiocurePharm Corporation (“BPK”) held by the Company, representing 51% of the shares currently held and 46% of the outstanding shares of BPK (the “Transaction”)
An aggregate of 5,690,538 shares votes were cast representing 5.22% of the issued and outstanding shares of the Company all in favor of the Transaction.
Under the terms of the Transaction, Dr. Lee will transfer to the Company an aggregate of 27,317,506 common shares of Biocure held by him for cancellation and return to treasury in consideration for the BPK Shares.
Further information on the Transaction can be found in information circular dated January 13, 2023, which is available on Biocure’s SEDAR profile at www.sedar.com.
Biocure retains the right to set the closing date for the Transaction, which may be up to three months following the date of today’s meeting. Biocure also retains the right to unilaterally terminate the Transaction in the event of any material change in BPK. Further updates concerning the progress of the Transaction will be provided in due course.
ON BEHALF OF THE BOARD OF DIRECTORS
/S/ “SANG MOK LEE”
CEO and Director
For further information, please contact:
Biocure Technology Inc. Telephone: 604-609-7146, or This email address is being protected from spambots. You need JavaScript enabled to view it.
Certain statements in this news release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning the Company’s proposed activities under the Agreement and the expectations of the Company regarding funding payments due pursuant to the Agreement. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements.
Except as required pursuant to applicable securities laws, the Company will not update these forward- looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company. Readers are cautioned not to place undue reliance on forward looking statements.
Neither the Canadian Securities Exchange (the “CSE”) nor the Investment Industry Regulatory Organization of Canada) accepts responsibility for the adequacy or accuracy of this release.
