Biolife Sciences Inc (BLFE)

[Louied91]

$BLFE BioLife Sciences Inc. (OTC: BLFE) Announces Letter of Intent for Exclusive Licensing Deal with Canadian Firm

https://www.newmediawire.com/news/biolife-sciences-inc-otc-blfe-announces-letter-of-intent-for-exclusive-licensing-deal-with-canadian-firm-7061047

Henderson NV - (NewMediaWire) - February 02, 2023 - BioLife Sciences (OTCPK: BLFE) is pleased to announce that it has entered into a non-binding letter of intent (“LOI”) dated February 01, 2023 with Canadian Company–Work In Motion pursuant to which the parties will complete an exclusive licensing agreement for the development and commercialization of custom designed copper infused bamboo gardening gloves.



Transaction

The final structure of the Transaction will be determined by the parties following corporate and securities law advice. The Transaction is an arm’s length transaction and pursuant to the terms of the LOI the parties intend to sign a definitive agreement (the “Definitive Agreement”) in respect of the Transaction; BioLife Sciences is intended to assume sole responsibility for the development and commercialization of private label copper infused bamboo gardening gloves.

Completion of the Transaction is subject to a number of conditions, including but not limited to the following key conditions:



execution of the Definitive Agreement.
completion of mutually satisfactory due diligence; and
successful sourcing of required equipment and design specifications.