BRIEF-Labat Africa Entered Into Agreement With Dr Shiksha Gallow For Acquisition Of 70% In BioData

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BRIEF-Labat Africa Entered Into Agreement With Dr Shiksha Gallow For Acquisition Of 70% In BioData
Credit: © Reuters.

April 14 (Reuters) - Labat Africa Ltd LABJ.J :

* VOLUNTARY ANN RE THE ACQ OF 70% INTEREST IN BIODATA & UPDATE ON PAC-CON & CANNAFRICA

* ENTERED INTO AN AGREEMENT WITH DR SHIKSHA GALLOW FOR ACQUISITION OF 70% IN BIODATA

* LABAT AFRICA ENTERED INTO AN AGREEMENT WITH SHIKSHA GALLOW FOR ACQUISITION OF 70% IN BIODATA

* CURRENTLY WELL POSITIONED TO COMMENCE WITH FORMALISED CLINICAL TRIALS FOCUSED ON PAIN MANAGEMENT AND INSOMNIA

* LABAT AFRICA WILL ACQUIRE A 70% STAKE IN BIODATA WITH EFFECT FROM 1 MAY 2020.

* ACQUISITION OF BUSINESS WILL BE FINANCED BY WAY OF ISSUE OF SHARES IN LABAT AFRICA

* ACQUISITION OF BUSINESS WILL BE FINANCED BY WAY OF ISSUE OF SHARES IN LABAT AFRICA

* SHAREHOLDERS ARE ADVISED THAT ALL CONDITIONS PRECEDENT FOR CANNAFRICA ACQUISITION HAVE BEEN MET

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