CARDIOGENICS HOLDINGS INC. ANNOUNCES LICENSE AGREEMENT AND DIVIDEND DISTRIBUTION
Caledon, Ontario, Sept. 03, 2021 (GLOBE NEWSWIRE) -- CardioGenics Holdings Inc. (OTC PINK: CGNH) (theCompany)announced todaythat its subsidiary, CardioGenics Inc. (CardioGenics), has entered into a license agreement with Covidgenics Corp., a private company located in Ontario, which grants to Covidgenics an exclusive 10-year global license of the Companys proprietary technology for its QL Care Analyzer and paramagnetic beads.
- Caledon, Ontario, Sept. 03, 2021 (GLOBE NEWSWIRE) -- CardioGenics Holdings Inc. (OTC PINK: CGNH) (theCompany)announced todaythat its subsidiary, CardioGenics Inc. (CardioGenics), has entered into a license agreement with Covidgenics Corp., a private company located in Ontario, which grants to Covidgenics an exclusive 10-year global license of the Companys proprietary technology for its QL Care Analyzer and paramagnetic beads.
- In order to provide the Companys shareholders an opportunity to participate directly in any increased value that may develop from Covidgenics further development efforts, the Company intends to issue to its shareholders, as a dividend, the Covidgenicsshares received by CardioGenics under the license agreement, subject to compliance with all applicable laws.
- CardioGenics Holdings intends to deliver the Covidgenics shares to its shareholders on a pro rata basis according to their holdings as of a record date of September 13, 2021.
- The shares distributed to CardioGenics Holdings shareholders will be held, in the shareholder name, at Covidgenics.