Assets to further enhance ZYUS cannabinoid clinical trial program
SASKATOON, Saskatchewan–(BUSINESS WIRE)–ZYUS Life Sciences Inc. (“ZYUS” or the “Company”) has entered into a
definitive asset purchase agreement (the “Agreement”) with Ehave, Inc.
(OTCQB:EHVVF) (“Ehave”) for ZYUS to acquire a proprietary health
informatics platform (the “Platform”). The total purchase price of CAD
$3.2 million will be paid in cash, as well as stock equating to just
under one percent of ZYUS’ currently outstanding shares.
The Platform contains components specifically designed to be used by
medical cannabis patients to efficiently gather and verify
patient-reported outcomes and experiences, evaluate treatment progress,
enhance patient engagement and improve data modeling.
“One of the greatest hurdles faced by patients and clinicians is the
lack of a clinical framework to provide effective and reliable dosing
and administration regimes,” said Brent Zettl, Chief Executive Officer
of ZYUS. “This Platform will be seamlessly incorporated into our
clinical trial program and be a valuable tool for the collection of
high-quality data that can be shared with patients and clinicians to
validate efficacy in cannabinoid-based medicine, further strengthening
ZYUS’ position as a leader in cannabinoid therapeutics.”
Closing of the acquisition remains subject to the satisfaction of
customary closing conditions, including applicable regulatory approvals,
and the approval of Ehave shareholders.
About ZYUS Life Sciences Inc.
ZYUS is a Canadian-based, globally focused biopharmaceutical company
that offers patients cannabinoid and other phyto-therapeutic medical
solutions. Through our buildout of high margin Canadian and
international GMP extraction facilities, global distribution partners,
advanced clinical research and IP development, we will deliver
high-quality oils, gelcaps, topical creams and other therapeutic
formulations to patients worldwide.
At ZYUS, we are shifting the paradigm from the treatment of physical
disease to caring for overall well-being by accelerating adoption of
cannabinoids as a medical solution. To achieve this, we are investing in
clinical research, advancing manufacturing, defining scientific
standards, delivering leading education and support, and raising
awareness of medical need across the industry.
ZYUS: Advancing the Science of Well-Being™
Please visit ZYUS.com
Forward-Looking Information
This news release contains forward-looking statements. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements
of ZYUS to be materially different from any future results, performance
or achievements expressed or implied by the forward-looking statements.
These forward-looking statements include, but are not limited to,
statements relating to ZYUS’ expectations with respect to the expected
closing date for the acquisition, the utility of the acquired technology
to patients, clinicians and researchers and the ability of the acquired
technology to improve patient outcomes and quality of life, successful
closing of the contemplated transaction and the impact the technology
will have on ZYUS’ clinical trial program and position in industry.
Often, but not always, forward-looking statements can be identified by
the use of words such as “plans”, “expects” or “does not expect”, “is
expected”, “estimates”, “intends”, “anticipates” or “does not
anticipate”, or “believes”, or variations of such words and phrases or
state that certain actions, events or results “may”, “could”, “would”,
“might” or “will” be taken, occur or be achieved. Forward-looking
statements are based on certain assumptions and are subject to various
known and unknown risks and uncertainties, many of which are beyond the
Company’s control, and cannot be predicted or quantified and
consequently, actual results may differ materially from those expressed
or implied by such forward-looking statements: (i) the parties to the
asset purchase agreement being unable to obtain the necessary director,
shareholder and regulatory approvals in a timely manner or at all; (ii)
the failure of any closing conditions to the asset purchase agreement to
be satisfied; and (iii) the newly acquired technology being effective in
clinical trials, improving patient outcomes and impacting ZYUS’ position
within the cannabinoid-therapeutics industry. Accordingly, readers
should not place undue reliance on the forward-looking statements and
information contained in this press release. Since forward-looking
statements and information address future events and conditions, by
their very nature they involve inherent risks and uncertainties.
Actual results could differ materially from those currently anticipated
due to a number of factors and risks. Readers are cautioned that the
foregoing list of factors is not exhaustive. The forward-looking
statements contained in this news release are made as of the date of
this release and, accordingly, are subject to change after such date.
ZYUS does not assume any obligation to update or revise any
forward-looking statements, whether written or oral, that may be made
from time to time by us or on our behalf, except as required by
applicable law.
Contacts
Media enquiries:
Dara Willis, ZYUS
Mobile: 416-836-9272
dara.willis@zyus.com
Investor
enquiries:
Allan Fowler, ZYUS
invest@zyus.com
allan.fowler@zyus.com