Brief: GBS Inc Enters Into Exclusivity Agreement For Acquisition Of Unique Point Of Care Diagnostic Screening Technology Focused On Opioids And Drugs Of Abuse

Intelligent Bio Solutions

16/06/2022 13:36

June 16 (Reuters) - Gbs Inc  GBS.O :
    * GBS INC. ENTERS INTO EXCLUSIVITY AGREEMENT FOR AN
ACQUISITION OF
UNIQUE POINT OF CARE DIAGNOSTIC SCREENING TECHNOLOGY FOCUSED ON
OPIOIDS AND DRUGS OF ABUSE
    * GBS- HAS ENTERED INTO A BRIDGE FACILITY AGREEMENT THROUGH
WHICH
GBS WILL PROVIDE IFP WITH AN UNSECURED TERM LOAN FACILITY IN
AMOUNT OF $500,000 (USD)
    * GBS INC- EXCLUSIVITY AGREEMENT PROVIDES GBS WITH EXCLUSIVE
RIGHT
UNTIL DEC 31 TO EVALUATE AND NEGOTIATE A TRANSACTION TO ACQUIRE
IFP OR ITS ASSETS
    * GBS- THROUGH PROPOSED DEAL, GBS WOULD GAIN ACCESS TO FULL
IFP
PRODUCT PORTFOLIO, IFP'S CURRENT CUSTOMER BASE AND ISO 13485
U.K. MANUFACTURING FACILITY
    * GBS INC - EXCLUSIVITY AGREEMENT PROVIDES CO WITH EXCLUSIVE
RIGHT
UNTIL DEC 31 TO EVALUATE AND NEGOTIATE A TRANSACTION TO ACQUIRE
IFP OR ITS ASSETS

Source text for Eikon:  ID:nGNX4DVht1 
Further company coverage:  GBS.O 

 ((Reuters.Briefs@thomsonreuters.com;))