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Med BioGene Inc. completes acquisition of Dragon-Tex (Group) Limited and $2 million financing

09-May-2006

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Med BioGene Inc. announced that it completed its acquisition of Dragon-Tex (Group) Limited ("DTX"). As part of the acquisition, the shareholders of DTX exchanged their common shares for common shares of MBI on the basis of two common shares of DTX for one common share of MBI.

Furthermore, concurrently with the closing of the acquisition, MBI completed a brokered private placement for gross proceeds of approximately $2 million. MBI reported that the private placement was oversubscribed by 38%. Blackmont Capital Inc. was the agent for the private placement.

https://www.bionity.com/en/news/54595/med-biogene-inc-completes-acquisition-of-dragon-tex-group-limited-and-2-million-financing.html

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