$BIOAQ. BioAmber Inc
In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company, the holders of shares of common stock shall be entitled to receive all of the remaining assets of the Company available for distribution to its shareholders, ratably in proportion to the number of shares held by them. Refer to page 92 of the actual document.
Plant Manager Trevor MacLeod said they’ve now hired about 35 employees.
“There’s been a lot of activity here,” said MacLeod. “We have pretty much finished our hiring drive at this point, almost all of the staff are on board and we are working hard at training those individuals and getting ready for start up, as well as putting in place all of our supply and service agreements.”
A lot of work is underway behind the scenes to restart production at Sarnia’s former BioAmber site this fall.
LCY Biosciences plans to ZERO in on succinic acid production first, the same product BioAmber specialized in, before expanding production to nutraceuticals.
MacLeod said about $3 million is being spent on the short term improvement plan.
LCY Biosciences bought the plant for $4.34 million as PART of BioAmber’s court ordered liquidation process.
So they spend 3 mill for short term improvement plans and paid 4.34 mill for the plant?
YEAH.....OK....
