Aptilon Announces the Closing of the Sale of Certain Assets
MONTRÉAL, Nov. 23, 2012 /CNW/ - Aptilon Corporation ("Aptilon" or the "Corporation") (TSXV: APZ) today announced that its wholly-owned subsidiary, Aptilon Holdings Inc. ("Holdings"), has concluded the sale of substantially all of its assets related to its business of providing multichannel, e-detailing and physician marketing services to members of the healthcare industry (the "Business") to Indegene Aptilon, Inc. ("Indegene"), an entity dealing at arm's length with Aptilon and Holdings.
The sale of these assets will allow Aptilon to focus its activities on the healthcare marketing services it acquired in September 2009. The Board of Directors of Aptilon remains the same after this transaction, and it is comprised of: Justin Beckett, Mark Benthin, André Brosseau, Roger Korman and Denis Martineau.
The Corporation also announces that it has reached agreements with its Canadian lenders regarding the repayment of its long-term debt. The revised payment schedule coincides with the earnout payments that may be received from Indegene in June 2013 and June 2014 pursuant to the Asset Purchase Agreement. In addition, the loan granted by FIER CPVC-Montreal has been reimbursed in full.
The Corporation anticipates being able to file the missing annual and quarterly financial statements with the regulatory authorities by the end of this year, and it understands that the current cease-trade orders should be lifted shortly after the filings. The Corporation anticipates being in a position to hold its annual meeting of shareholders by the end of February 2013.
About Aptilon Corporation
Aptilon enables pharmaceutical, biotech and medical device companies to effectively reach, message, connect and interact with US physicians and healthcare professionals via multiple access channels. Its innovative service offerings provide targeted impressions and interactions through: video and mobile detailing, digital access channels and permission-based email services. Top pharmaceutical companies and respected healthcare organizations have adopted Aptilon's solutions to market to, engage and interact with leading healthcare practitioners. For more information, visit www.aptilon.com.
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