Monday, October 19, 2020
10:46 AM EST – Softlab9 Technologies Inc. : Announced it has signed a letter of intent for the arm’s length acquisition of Kosan Medical Company Ltd., a provider of medical grade, protective apparel and gear (PPE). Rahim Mohamed, CEO of SOFT states, “Through this potential acquisition, we are adding three critical elements to the Company: tested and available PPE inventory, a strong, reliable new supply chain and Canadian based production capabilities of PPE products. With the ongoing pandemic, this will help communities to source the PPE they need.” In conjunction with the LOI, the Company has provided a secured $50,000 loan to Kosan Medical and intends to complete due diligence in the coming weeks and have a definitive agreement before the end of October 2020, that will encompass the full inventory, technology, machinery, and rights of Kosan Medical. Softlab9 Technologies Inc. (C.SOFT) shares were up 5 cents at 0.76.
Stocks in Play: Softlab9 Technologies Inc., Mon, 19 Oct 2020 11:00:01 EST