INNOVOTECH INC. ("IOT")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: January 18, 2021
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation an equity participation agreement ("Agreement") dated August 18, 2020, between the Company and Nou Life Sciences Inc. (the "Vendor"). Pursuant to the terms of the Agreement, the Company will the right, but not the obligation, to earn a 60% equity interest in the Vendor in return for an initial $2,500 upon signing of the Agreement and further providing an aggregate of $100,000 in cash payments for development expenses over a two year term.
Insider / Pro Group Participation: This transaction is considered at Non-Arm's Length as a result of David Tam being a director for both the Company as well as the Vendor.
For further information, please reference the Company's news release dated August 18, 2020.
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