U.S. Markets open in 27 mins
  • S&P Futures

    4,623.00
    +56.75 (+1.24%)
     
  • Dow Futures

    34,784.00
    +327.00 (+0.95%)
     
  • Nasdaq Futures

    16,351.50
    +201.00 (+1.24%)
     
  • Russell 2000 Futures

    2,254.00
    +56.70 (+2.58%)
     
  • Crude Oil

    67.89
    +1.71 (+2.58%)
     
  • Gold

    1,791.50
    +15.00 (+0.84%)
     
  • Silver

    22.81
    -0.01 (-0.02%)
     
  • EUR/USD

    1.1344
    +0.0005 (+0.0454%)
     
  • 10-Yr Bond

    1.4830
    +0.0400 (+2.77%)
     
  • Vix

    23.72
    +6.61 (+38.63%)
     
  • GBP/USD

    1.3343
    +0.0042 (+0.3136%)
     
  • USD/JPY

    113.1250
    -0.0550 (-0.0486%)
     
  • BTC-USD

    57,778.90
    -569.20 (-0.98%)
     
  • CMC Crypto 200

    1,476.22
    +8.29 (+0.56%)
     
  • FTSE 100

    7,161.07
    +101.62 (+1.44%)
     
  • Nikkei 225

    27,935.62
    +113.86 (+0.41%)
     

Instadose Pharma Corp. Announces Update to Arrangement!

·3 min read

CHESAPEAKE, VA / ACCESSWIRE / October 21, 2021 / Instadose Pharma Corp. (OTC Pink:INSD) ("the "Company"), a shell company, today announced that Instadose Pharma Corp., an organization incorporated under the laws of British Columbia ("Instadose Canada" or the "Petitioner") received a Final Order on October 19, 2021 from the Supreme Court of British Columbia, Canada (the "Court") in connection with a proposed plan of arrangement (the "Plan of Arrangement") giving effect to an arrangement (the "Arrangement") under section 288 of the Business Corporations Act (British Columbia), S.B.C. 2002, c.57, as amended, (the "BCBCA") involving the Petitioner, its shareholders and the Company.

Instadose Canada received a Final Order which provided for, among others, (i) pursuant to Section 291 (4)(c) of the BCBCA the Arrangement as provided for in the Plan of Arrangement, including the terms and conditions thereof and the distributions, issuances, exchanges and/or adjustments of securities contemplated therein or in connection therewith, is procedurally and substantively fair and reasonable to the Instadose Shareholders; and (ii) pursuant to section 291(4)(a) of the BCBCA, the Arrangement as provided for in the Plan of Arrangement, including the terms and conditions thereof and the distributions, issuances, exchanges, and/or adjustments of securities contemplated therein or in connection therewith, be and was hereby approved by the Court.

The consideration to be paid to the Instadose Canada shareholders will be 1.34 share of common stock of the Company for each outstanding share of the Company. Upon consummation of the transaction, the Company will no longer be considered a "shell" company. Closing of the Arrangement is expected to occur on or about November 15, 2021.

The foregoing description of the Final Order and the transactions contemplated thereby does not purport to be complete and is subject to, and qualified in its entirety by reference to, the Final Order, a copy of is disclosed in the Company's filing of a Form 8-K with the Securities and Exchange Commission and incorporated herein by reference.

This press release may include, and oral statements made from time to time by representatives of the Company may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding possible business combinations and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions, as they relate to the proposed transaction, us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company's management. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to: (i) the closing does not occur on or before December 31, 2021 or (ii) if the transaction is deemed illegal. The Company's filings can be obtained free of charge on the Securities and Exchange Commission website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based.

Contact:

Public Relations
Info@instadosepharma.com

SOURCE: Instadose Pharma Corp.



View source version on accesswire.com:
https://www.accesswire.com/669133/Instadose-Pharma-Corp-Announces-Update-to-Arrangement