QuantRx Biomedical Corporation (QTXB)

[ALERTS100%to10000%GAIN]

QTXB~~MONSTA HUGE NEWSSS $$$$~At closing, and as required by the APA, the Company deposited $400,000 of the Cash Balance in escrow, which funds shall be used to fund up to 50% of the costs incurred by Preprogen in connection with the development and manufacturing of materials to be used by the Company for its over the counter (“ OTC ”) miniform products and to be used by Preprogen for diagnostic products related to the Purchased Assets. A copy of the Escrow Agreement is attached hereto as Exhibit 10.5.

As additional consideration for the Purchased Assets, the Company issued a warrant to Preprogen’s designee, to purchase up to 15.0 million shares of the Company’s common stock, par value $0.01 per share, at an exercise price equal to $0.05 per share (the “ Warrant ”). The Warrant is immediately exercisable, and shall expire on December 14, 2022. A copy of the Warrant is attached hereto as Exhibit 10.6.

Pursuant to the terms of the License Agreement,Preprmarkets. Preprogen licensed-back to the Company rights to use the intellectual property transferred to Preprogen necessary to the development, manufacture, marketing and sale of the Company’s OTC miniform products for the feminine hygiene and hemorrhoid treatment

https://ih.advfn.com/p.php?pid=nmona&article=76350524