Theralink Technologies Inc (THER)

[MikeCr]

OncBioMune Announces Closing of Asset Purchase Agreement with Avant Diagnostics

https://www.accesswire.com/593012/OncBioMune-Announces-Closing-of-Asset-Purchase-Agreement-with-Avant-Diagnostics

Avant Diagnostics provides personalized medicine data for physicians and measures the activation state of key drug targets and signaling pathways for Biopharmas through its Theralink® assays

The stock will continue to be listed on OTC markets under the symbol "OBMP"

GOLDEN, CO / ACCESSWIRE / June 8, 2020 / OncBioMune Pharmaceuticals, Inc. (OTC PINK:OBMP) ("OncBioMune") today announced the successful completion of its purchase of all the assets of Avant Diagnostics, Inc. ("Avant"), a commercial-stage, molecular profiling company. OncBioMune is currently trading on the OTC Markets under the symbol ‘OBMP', but intends to file the necessary applications to change the stock symbol to ‘THER' and its name to Theralink® Technologies, Inc. in the near future.

As consideration for the assets of Avant, OncBioMune issued to Avant shares of its Series D-1 Convertible Preferred Stock. Upon the filing of an amendment to OncBioMune's Articles of Incorporation to increase its authorized common stock, which is expected to occur within 45 days, the shares of preferred stock issued to Avant shall automatically convert into approximately 4.4 billion shares of OncBioMune's common stock. As a condition of the closing of the acquisition, the Company raised $1,075,000 in a private placement of its Series C-2 Convertible Preferred Stock from two institutional investors, the Cavalry Fund and Lincoln Park Capital. The Company does not have institutional debt and no longer has convertible debt or variable rate warrants.

About Avant Diagnostics, Inc.