PuraPharm Announces Patent Licence and Share Subscription Agreements

PuraPharm Corp. Ltd. ( (HK:1498) ) has issued an update.

PuraPharm Corporation Limited has entered into a Patent Licence Agreement with a licensor, granting them an exclusive non-transferable license for certain intellectual property in exchange for HK$40,200,000 worth of consideration shares. This transaction is considered discloseable and connected due to the involvement of Mr. Chan, a controlling shareholder and executive of the company, and requires approval from independent shareholders. Additionally, PuraPharm has entered into a Subscription Agreement to issue 46,512,000 new shares at HK$0.43 each, raising HK$20,000,160, subject to shareholder approval.

More about PuraPharm Corp. Ltd.

PuraPharm Corporation Limited is a company incorporated in the Cayman Islands, primarily engaged in the pharmaceutical industry. The company focuses on the development and distribution of herbal medicines and related products.

Average Trading Volume: 126,524

Technical Sentiment Signal: Sell

Current Market Cap: HK$179.7M

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