{"id":14898,"date":"2022-01-26T03:50:51","date_gmt":"2022-01-26T03:50:51","guid":{"rendered":"https:\/\/greywolfah.com\/magen-ventures-enters-into-letter-of-intent-for-qualifying-transaction-with-grey-wolf-animal-health-inc\/"},"modified":"2022-11-29T14:44:42","modified_gmt":"2022-11-29T14:44:42","slug":"magen-ventures-enters-into-letter-of-intent-for-qualifying-transaction-with-grey-wolf-animal-health-inc","status":"publish","type":"post","link":"https:\/\/greywolfah.com\/fr\/magen-ventures-enters-into-letter-of-intent-for-qualifying-transaction-with-grey-wolf-animal-health-inc\/","title":{"rendered":"MAGEN VENTURES ENTERS INTO LETTER OF INTENT FOR QUALIFYING TRANSACTION WITH GREY WOLF ANIMAL HEALTH INC."},"content":{"rendered":"\t\t
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Press Releases<\/div>
We are here for animals \u2013 and for you.<\/div><\/div><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Magen Ventures Enters into Letter of Intent for Qualifying Transaction with Grey Wolf Animal Health Inc.<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tTORONTO, ONTARIO \u2013 January 26, 2022 \u2013 Magen Ventures I Inc. (TSXV: MAGN.P) (\u201cMagen\u201d or the \u201cCompany\u201d) and Grey Wolf Animal Health Inc. (\u201cGrey Wolf\u201d or the \u201cTarget\u201d) are pleased to announce that they have entered into a non-binding letter of intent dated January 26, 2022 (the \u201cLOI\u201d), pursuant to which Magen and Grey Wolf intend to complete a business combination or other similarly structured transaction which will constitute a reverse take-over of Magen (the \u201cTransaction\u201d). It is intended that the Transaction will be an arm\u2019s length \u201cQualifying Transaction\u201d for Magen, as such term is defined in Policy 2.4 \u2013 Capital Pool Companies of the TSX Venture Exchange (the \u201cTSXV\u201d).\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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About Grey Wolf<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tGrey Wolf, founded by a veterinarian, is a diversified animal health company focused on bringing to market a broad portfolio of products that meet the unmet needs of veterinarians, pets and clinics across Canada. Grey Wolf is a corporation existing under the Business Corporations Act (Ontario) and was amalgamated on December 31, 2020.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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About Magen<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tMagen is a Capital Pool Company (as defined in the policies of the TSXV) listed on the TSXV having been incorporated under the Business Corporations Act (Ontario) on February 9, 2021. Magen has no commercial operations and no assets other than cash.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The Transaction<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tNo party to the Transaction or their respective Associates or Affiliates (as defined in the policies of the TSXV), is a Control Person (as defined in the policies of the TSXV) of both Magen and Grey Wolf and as such the Transaction will not be a Non-Arm\u2019s Length Qualifying Transaction (as defined in the policies of the TSXV).\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tPursuant to the terms of the LOI, Magen and Grey Wolf are expected to negotiate with a view to entering into a binding definitive agreement (the \u00ab\u00a0Definitive Agreement\u00a0\u00bb) incorporating the principal terms of the Transaction as described in the LOI. The terms and conditions outlined in the LOI are non-binding on the parties, and the LOI is expected to be superseded by the Definitive Agreement. A comprehensive news release will be issued by the Company and the Target setting out the terms of the Transaction, which shall include information about the Company upon closing of the Transaction\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Cautionary Note Regarding Forward Looking Information<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tThis press release contains statements that constitute \u201cforward-looking information\u201d (\u201cforward-looking information\u201d) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as \u201cexpects\u201d, or \u201cdoes not expect\u201d, \u201cis expected\u201d, \u201canticipates\u201d or \u201cdoes not anticipate\u201d, \u201cplans\u201d, \u201cbudget\u201d, \u201cscheduled\u201d, \u201cforecasts\u201d, \u201cestimates\u201d, \u201cbelieves\u201d or \u201cintends\u201d or variations of such words and phrases or stating that certain actions, events or results \u201cmay\u201d or \u201ccould\u201d, \u201cwould\u201d, \u201cmight\u201d or \u201cwill\u201d be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tMore particularly and without limitation, this press release contains forward-looking statements concerning the Transaction (including the closing of the Transaction and the entering into, if at all, of the Definitive Agreement). In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions, including that; all applicable shareholder, and regulatory approvals for the Transaction will be received; and that the Transaction will be completed on mutually acceptable terms.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tAlthough the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: delay or failure to receive board, shareholder or regulatory approvals; and general business, economic, competitive, political and social uncertainties. There can be no certainty that the Transaction will be completed on the terms set out in the LOI or at all. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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For further information contact:<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tJesse Kaplan<\/strong>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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