Brief: Tetra Bio-Pharma Enters Into Definitive Agreement To Acquire Panag Pharma

Tetra Bio Pharma

31/01/2019 01:18

Jan 30 (Reuters) - Tetra Bio Pharma Inc  TBP.V :
    * TETRA BIO-PHARMA ENTERS INTO DEFINITIVE AGREEMENT TO
ACQUIRE
PANAG PHARMA INC
    * WOULD ACQUIRE 100 PCT OF ISSUED AND OUTSTANDING SHARES OF
PANAG
FOR AN AGGREGATE CONSIDERATION OF $12 MILLION
    * AFTER CLOSING OF PROPOSED DEAL, IT IS EXPECTED THAT PANAG
WILL
REMAIN A SEPARATE SUBSIDIARY OWNED 100% BY TETRA
    * PURCHASE PRICE WOULD BE PAYABLE BY CO DELIVERING TO
VENDORS,
WOULD BE $3MLN IN CASH, $9MLN IN COMMON SHARES OF CO

Source text for Eikon:  ID:nCNWHW58Ra 
Further company coverage:  TBP.V 

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