Novo Integrated Sciences, Inc. (NASDAQ: NVOS) (the “Company” or “Novo”) announced today it has completed the acquisition of PRO-DIP, LLC, a U.S.-based company that has developed an innovative, patent-pending oral pouch delivery system technology that allows for broad market applications related to nutritionally focused products and medicinal based formulations. The all-share transaction is valued at $755,385, or $3.98 per share of the Company’s common stock.
“The acquisition of PRO-DIP is a strategically important event complimentary to one of Novo’s growth initiatives to build a health science-related IP portfolio,” said Robert Mattacchione, Novo’s Chairman and CEO. “We believe adding PRO-DIP’s talented team, led by Peter St. Lawrence, as well as PRO-DIP’s current and anticipated future product offerings, provides a foundation to innovate, evolve, and propel Novo in the healthcare product solution category.”
Peter St. Lawrence, President of PRO-DIP, stated, “We are proud to join Novo and very excited to pioneer something completely original for the marketplace. We couldn’t do it without the shared vision of Novo and its resolute commitment to innovation and service.”
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as “believe,” “intend,” “expect,” “anticipate,” “plan,” “potential,” “continue” or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks, and uncertainties are discussed in Novo’s filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond Novo’s control which could, and likely will materially affect actual results, levels of activity, performance, or achievements. Any forward-looking statement reflects Novo’s current views with respect to future events and is subject to these and other risks, uncertainties, and assumptions relating to operations, results of operations, growth strategy, and liquidity. Novo assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The contents of any website referenced in this press release are not incorporated by reference herein.
Source: Biospace
Want to publish your own articles on DistilINFO Publications?
Send us an email, we will get in touch with you.
