VANCOUVER, BC / ACCESSWIRE / March 9, 2017 / CVR Medical Corp. CVR Medical Corp. (TSX.V:CVM) (FRANKFURT: B3BN) (OTCQB: CRRVF) (“CVR Medical“) is pleased to report that it has entered into a letter of intent with CVR Global Inc. (“CVR Global”) to acquire an additional 10% interest of the “Joint Venture Business” from CVR Global’s current 50% interest (the “Transaction“). The Joint Venture Business is held pursuant to, and governed by, the terms of the Joint Venture Agreement between CVR Global and CVR Medical. Upon closing of the Transaction, the Joint Venture Business and related assets will be transferred into a new corporate entity to be established for the ongoing ownership and operation of the business. The purchase price for the Transaction will be 3,000,000 common shares of CVR Medical (the “Consideration Shares“) and concurrently with the closing of the Transaction, the parties will enter into a shareholders agreement in regards to the new corporate entity that will assume the Joint Venture Business.
The proposed Transaction and issuance of the Consideration Shares remain subject to acceptance of the TSX Venture Exchange.
The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
For additional information on the organization, leadership, and current news please visit the newly launched company website www.CVRMed.com
About CVR Medical
CVR Medical is a company that is involved in an equal parts joint venture with CVR Global Inc. (the “Joint Venture”). The Joint Venture operates in the medical industry focused on the commercialization of a proprietary subsonic, infrasonic, and low frequency sound wave analysis technology and has patents to a diagnostic device designed to detect and measure carotid arterial stenosis. CVR Medical is managed by a proven technical team. CVR Medical trades on the TSX Venture Exchange under the symbol CVM.
For further information contact:
Brisco Capital Partners Corp.
Scott Koyich, President
Telephone: (403) 262-9888