Mergers & Acquisitions
By The Online Investor Staff, updated Sat., Sep. 19, 8:27 AM
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Slide #15. General Biologicals Corporation — Pacgen Life Science Corporation
Acquirer:
General Biologicals Corporation
Acquiree:
Pacgen Life Science Corporation (CVE:PBS.CA)
Details:
Pacgen Life Science Corporation ("Pacgen" or the "Company") (TSX-V: PBS) is pleased to announce the voting results of its annual and special meeting (the "Meeting") of the holders of its common shares ("Common Shares") held on September 15, 2020. At the Meeting, Shareholders approved a special resolution (the "Arrangement Resolution") in respect of a statutory plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia) pursuant to which General Biologicals Corporation ("GBC") will acquire all of the issued and outstanding Common Shares, other than Common Shares owned by GBC, its Executive Chairman and affiliated companies, for cash consideration of $0.0275 per share. At the Meeting, shareholders also approved the election of each of the incumbent directors of the Company, the appointment of its auditors and the Company's 10% rolling stock option plan.
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