Ergoresearch Inc. and Victhom Human Bionics. Announce Execution of Definitive Arrangement Agreement

LAVAL, QC, March 14, 2013 /CNW Telbec/ - Ergoresearch Ltd. (TSXV: ERG) ("Ergoresearch") and Victhom Human Bionics Inc. (TSXV: VHB) ("Victhom") announced today that Ergoresearch Inc. (the "Purchaser"), a direct wholly-owned subsidiary of Ergoresearch, and Victhom have entered into a definitive arrangement agreement (the "Arrangement Agreement") pursuant to which all of the outstanding securities of Victhom will be acquired by the Purchaser. Under the terms of the Arrangement Agreement, the total consideration is $4.1 million and existing holders of common shares of Victhom will receive $0.08 in cash per share, the holders of the class A preferred shares of Victhom will receive a cash amount equal to $2,556,188 divided by the number of issued and outstanding series A preferred shares on closing of the arrangement. There are currently 19,297,654 common shares and 6,479,131 Series A Preferred Shares of Victhom issued and outstanding.
MORE ON THIS TOPIC