News out
Argus Worldwide Corp. acquires control block of early stage generic pharmaceutical firm BioPharmcor BV
For Immediate Release
Ottawa, Ontario October 19, 2017:
The Board of Directors of Argus Worldwide Corp. (www.argusworldwide.com) and VMS Rehab Systems, Inc. (www.vmsrehabsystemsinc.com) jointly report on the completion of a Share Transfer Agreement signed on March 30th, 2017. The Share Transfer Agreement supersedes a proposed transaction that was tentatively agreed betweenthe Parties in late 2016.
Under the terms of the new agreement signed on March 29th, 2017, VMS has agreed to transfer to Argus a controlblock of 17,005,000
Class A ordinary voting shares and 55,000 Class B multiple voting shares of Dutch based generic drug developer BioPharmcor BV. At the same time, Argus has transferred to VMS a block of Argus Class A voting shares and share options and returned to VMS’Treasury a block of 120,000,000 Class A VMS shares that would have given Argus control over the 20 year old health products company.
In addition, Argus has agreed to enter into a 3 year funding agreement with VMS Rehab Systems Inc. to invest up to US $1.5 million to assist the company in building out its new E-Commerce platform for quality of life healthcare products and other internet based health services.
Established in 1998, as a manufacturer and distributor of Home Healthcare products, VMS Rehab Systems, Inc. is headquartered in Ottawa, Canada. The shares of VMS Rehab Systems, Inc. are listed on the US OTC Pink Current Market (Symbol: VRSYF).
Argus Worldwide Corp. is a portfolio management and investment firm headquartered in Cheyenne, Wyoming, with affiliated offices in Ottawa, Canada, Warsaw, Poland and Amsterdam, The Netherlands.
Shares of Argus Worldwide Corp. are listed on the US OTC Pink Current Market (Symbol: ARGW).
