Monday, February 14, 2005 12:52:43 PM
Monday February 14, 11:41 am ET
BARTLESVILLE, Okla., Feb. 14 /PRNewswire-FirstCall/ -- New Harvest Capital Corp. (OTC Bulletin Board: HVST - News; "New Harvest" or the "Company") and certain of its security holders have executed a non-binding Term Sheet with a privately-held company which is a development stage biopharmaceutical company that is focused on the development and commercialization of diagnostics and therapeutics for large populations in inflammatory diseases.
The transaction contemplated by the Term Sheet would include the merger of the target company into a wholly-owned subsidiary of New Harvest and a change of control of New Harvest. Completion of the proposed transaction is subject to various terms and conditions, including but not limited to the negotiation and execution of definitive agreements between the parties, the arrangement of financing, necessary approvals by the boards of directors and stockholders and the satisfactory completion of due diligence. The current shareholders of New Harvest would suffer substantial dilution as a result of the proposed transaction. It is currently expected that the current shareholders of New Harvest will retain approximately three to five percent of the equity in the post-merger entity. New Harvest has granted the target an exclusive period, through March 31, 2005, in which to negotiate and execute a definitive merger agreement. There is no assurance that New Harvest will be successful in negotiating and entering into a definitive merger agreement or that the transaction contemplated by the merger agreement will be completed.
_________________
If what you did yesterday isn't working, change it!!!!
UC Asset Announces Plan of Secondary Public Offering via Reg A • UCASU • Jan 23, 2025 9:30 AM
Luke Plants Featured in U.S. Department of the Interior Report to Congress on Strategic Review of National Orphan Well Program • ZEFIF • Jan 21, 2025 10:51 AM
North Bay Resources Acquires 70% Interest in the Bishop Gold Mill, Inyo County, California • NBRI • Jan 21, 2025 9:26 AM
HealthLynked Unveils Release of ARi: A Revolutionary AI-Powered Healthcare Assistant • HLYK • Jan 21, 2025 8:00 AM
Good Gaming Inc. Announces ViaOne Services' Intent to Purchase Up to 10% of Its Common Shares in the Open Market • GMER • Jan 16, 2025 8:30 AM
Avant Technologies and Ainnova Begin Implementing and Testing Advanced AI Algorithms for Early Detection of Additional Diseases • AVAI • Jan 16, 2025 8:00 AM