Tickers: XTSX:KDA
Tags: Mining
Thetford Mines, Quebec / TheNewswire / February 18, 2019 - KDA Group Inc. (TSXV: KDA) ("KDA" or the "Corporation") is pleased to announce that the transaction with Strides Pharma Canada inc. ("Strides") previously announced in its press releases dated December 4, 2018 and February 1st, 2019, according to which Strides acquired 80% of the issued and outstanding shares of its subsidiary Pharmapar Inc. ("Pharmapar") has been completed.
Pursuant to the terms of the share purchase agreement entered into between KDA and Strides, the transaction is effective as of January 1st, 2019.
"The partnership with Strides will allow Pharmapar to pursue its mission of more than 20 years to support pharmacy owners, because their pharmacies also deserve to be healthy! Pharmapar will benefit from an extensive portfolio of pharmaceutical products to benefit Quebec patients. The synergy between our organizations will propel Pharmapar and Strides to new heights in the Canadian market," explains Marc Beaudoin, CEO, Pharmapar.
"KDA is pleased to partner with a major partner such as Strides and its subsidiaries, we will benefit from the power that Strides has in the international pharmaceutical market and thereby allow us to switch to accelerate mode for the future project of KDA," mentions Marc Lemieux, President and CEO, KDA.
KDA has obtained the approval of the TSX Venture Exchange to the transaction on January 18, 2019, subject to the filing of the required documents and form.
Finally, KDA announces that its private placement of a maximum of 26,666,666 Class A Shares of KDA ("Common shares") at a price of $0.15 per Common share previously announced in its press release dated December 17, 2018, is expected to close in the coming weeks.
KDA is a leading generic drug distributor and specialized solution provider in the pharmaceutical market. Today it is a respected name for quality and expertise among the different stakeholders in the pharmaceutical sector. Its management team is guided by a vision of continuing to lead the way in Quebec while extending operations across Canada and internationally. Additional information on the Corporation is available at www.groupekda.ca and on SEDAR at www.sedar.com.
About STRIDES
Strides is a subsidiary of Strides Pharma Global Pte Ltd listed on the BSE Limited (532531) and National Stock Exchange of India Limited (STAR) and a global pharmaceutical company headquartered in Bangalore. The company has two business verticals, viz., Regulated Markets and Emerging Markets. The company has a global manufacturing footprint with seven manufacturing facilities spread across three continents including five facilities for Regulated Markets and two facilities for the Emerging Markets. The company has strong R&D infrastructure in India with global filing capabilities and a strong commercial footprint across more than 100 countries. Additional information is available at the company's website at www.strides.com.
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CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This press release from KDA contains forward-looking statements. Forward-looking statements are typically identified by the words assumption, goal, guidance, objective, outlook, strategy, target, and other similar expressions, or future or conditional verbs such as aim, anticipate, believe, predict, could, expect, intend, may, plan, seek, should, strive, and will. By their nature, forward-looking statements require us to make estimates and assumptions and express opinions based on current conditions and anticipated developments as well as other factors that management may deem appropriate under the circumstances. There is inherent uncertainty and significant risk in these estimates, assumptions, and opinions, particularly of a commercial, economic, and competitive nature, and they are therefore subject to change. KDA cannot guarantee that these estimates, assumptions, and opinions will prove to be accurate.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Marc Lemieux
Chief Executive Officer
514 622-7370
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