Ansell Capital Proposes Reverse Takeover with BriaCell Therapeutics

Ansell Capital Corp. (TSXV:ACP) has entered into a binding letter of intent for the arm’s length acquisition of 100% of the issued and outstanding common shares of BriaCell Therapeutics Corp., a private cancer immunotherapy company.

According to the press release:

The Proposed Transaction will be an arm’s length transaction as the directors and officers of Ansell presently have no interest in BriaCell. It is intended that the Proposed Transaction shall take place by way of an amalgamation, arrangement, share exchange or other similar form of transaction. Once the structure is determined, the letter of intent will be superseded by a definitive agreement between Ansell and BriaCell, and the parties will announce the signing of such definitive agreement and its general terms by news release. As part of and prior to closing the Proposed Transaction, Ansell anticipates a consolidation of its issued and outstanding securities on a 3.25-old-for-one-new basis. The Proposed Transaction will be considered a Change of Business and Reverse Takeover for Ansell, as such term is defined in Exchange Policy 5.2.

Click here to view the full press release.