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THE COMPANY IS ISSUING THE FOLLOWING PRESS RELEASE TO PROVIDE CLARIFICATIONS ON THE PREVIOUS PRESS RELEASES OF THE 20TH OF MAY AND 8TH OF JUNE, 2010.
CAPITAL PRO-ÉGAUX INC. ANNOUNCES THAT FURTHER TO SINLAB INC AGREEMENT WITH BIOMET/31 ON MAY 20TH, 2010 FOR THE AMENDEMENT OF ITS CURRENT MANUFACTURING, MARKETING, SALES AND DISTRIBUTION EXCLUSIVE LICENSE DATED JANUARY 20TH, 2005, THE "COMPANY" WILL BE PAYING A SPECIAL DIVIDEND.
LACHENAIE, QC, June 10 /CNW Telbec/ - Capital Pro-Égaux Inc. (the "Company") reports that further to the amended agreement between its wholly owned subsidiary SINLAB INC and BIOMET/3I the Board of Directors of the "Company" has approved, based on the availability of its working Capital generated by the first payment of the amended license, a resolution to pay a special cash dividend of five cents per common share, to all shareholders registered on June 18th, 2010 payable June the 28th, 2010.
The terms of the amended license are the following:
- Amendment of term to end of patents life of 2017 from current 2012
- Amendment of current exclusive license to a non exclusive
manufacturing, marketing, sales and distribution license thus,
providing the "Company" with the sole and exclusive right to bring
suit in its own name and to grant other non-exclusive licenses.
- Amendment of the current royalty rates based on volume of sales and
payment structure of quarterly installments subject to a minimum
sales level of 3000 units per year to a lump sum payment of
US 2,500,000$ due at the signature of the amended license and the
payments of two installments of US 1,500,000$ at month 12 and 24 of
- Abolition of "TRANSFER OF INTEREST IN SINLAB" clause whereby SINLAB
inc will not have, in the eventuality of the reception of an offer to
purchase by a third party, the obligation to submit offer to
Biomet/3i for considerations.
- All other clauses of the previous license remain in force in the
About Pro-Égaux Inc.
Pro-Égaux through its wholly owned subsidiary, SINLAB Inc, is a company based in Lachenaie, Quebec, specializing mainly in the conception and design of titanium products to be used in the dental prosthesis restoration industry.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
SOURCE Capital Pro-Égaux Inc.
For further information: For further information: Pierre Désormeau, President, Capital Pro-Égaux Inc., Tel.: (514) 616-0612, Fax: (450) 226-1923, firstname.lastname@example.org