Medicure to Acquire Majority Stake in Apicore

Medicure (TSXV:MPH, OTC:MCUJF) has, along with subsidiary Mauritius subsidiary, provided notice to select Apicore and Apigen Investments investors that is plans to acquire 4,717,000 Series A Preferred Shares and 1,250,000 Warrants.
According to the press release:

“[This] would bring Medicure’s ownership in Apicore to 64% (or approximately 60% on a fully diluted basis).  Medicure expects to close the acquisition of the majority position in Apicore by the end of November 2016, subject to regulatory approval.”

CEO Dr. Albert Friesen said the following:

“Medicure is pleased to be acquiring a majority equity position in Apicore and looks forward to working to further increase Apicore’s value for all stakeholders, in particular Medicure’s shareholders.”

Read the full press release here.