Novo Integrated up on $40 mln funding commitment

Novo Integrated Sciences

06/06/2023 13:45

** Shares of Novo Integrated Sciences Inc  NVOS.O  rise 7.6%
to $0.14 before the bell 
    ** Co receives a letter of funding commitment for a direct
investment in the company of $40 million from Sheikh Khaled
through his organization Gulf International Minerals and Energy
Group (GIMEG)
    ** The funding is expected to result in project-specific
joint ventures for development of elder care and senior living
community facilities in Canada 
    ** NVOS expects to enter into definitive documentation with
GIMEG's chairman Sheikh Khaled to set the terms of the proposed
collaboration in the coming months 
    ** Up to Monday's close, stock down 37.2% YTD

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik))