TORONTO, Sept. 4, 2012 /CNW/ - BIOSENTA INC. (CNSX: ZRO) (the "Company"). It has come to the Company's attention that Donald
Meade, Rx 110 Inc. and Rx 100 Inc. have issued a press release today
announcing settlement of litigation with the Company. All litigation
involving Rx 110 Inc., Rx 100 Inc. and Donald Meade has been previously
settled on the terms publicly disclosed March 7, 2012 and there have
been no further discussions or litigation involving these persons or
The Company entered into an intellectual property license agreement
effective November 26, 2010 with Rx 110 Inc. in respect of certain
patent rights purportedly held by Rx 110 Inc. and the Company issued 10
million Class A Shares in partial consideration of the license. As was
previously publicly announced October 18, 2011, the Company obtained an
initial injunction on a without notice basis (subsequently a continuing
injunction) against Donald Meade, Rx 110 Inc., Rx 100 Inc. and others,
restraining them from dealing in the shares issued pursuant to the
license agreement. The Company also announced that it issued a
statement of claim against Donald Meade, Rx 110 Inc., Rx 100 Inc. and
certain others, seeking return for cancellation of the shares issued in
consideration of the purported grant of an intellectual property
license by Rx 110 Inc. to the Company. The Company alleged, among
other things, that neither Donald Meade, Rx 110 Inc. nor Rx 100 Inc.
held any Canadian patents purportedly subject to the license.
On March 7, 2012, the Company publicly announced that it had reached a
binding settlement agreement with Donald Meade, Rx 110 Inc., Rx 100
Inc. and certain other defendants pursuant to which 8,552,123 of the
shares issued in consideration for the grant of the intellectual
property license would be returned to the Company for cancellation.
The Company has publicly announced that 8,398,359 of these shares have
been surrendered and cancelled to date. The remaining shares are held
by a number of small shareholders.
As publicly announced by the Company June 10, 2011 and April 10, 2011,
and in the Company's various other continuous disclosure filings, the
Company has secured a license from the owners of the applicable and
unrelated intellectual property necessary for its business.
About BIOSENTA Inc.
BIOSENTA Inc.'s line of retail anti-microbial products will effectively
kill mould, bacteria and fungi on contact and prevent re-growth. These
products address the demand created by the mounting health and
environmental concerns. Mould can affect the immune system, nervous
system, liver, kidneys, blood and cause brain damage.
BIOSENTA will also manufacture and distribute an anti-microbial filler.
Calcium Carbonate is one of the most common fillers used industrially.
It is susceptible like other fillers that hold moisture to attracting
mould. Annual global revenue in the calcium carbonate filler industry
approximates 140 billion dollars. BIOSENTA will produce anti-microbial
filler that performs 'filling' and 'bulking' functions like calcium
carbonate. BIOSENTA's filler product will not attract moisture and
consequently mould infestation. BIOSENTA's filler with its
anti-microbial high ph core in individual particles will enhance
commercial product life and eradicate a broad spectrum of known
bacteria, fungi, algae and other micro-organisms by suppression of
This release may contain forward-looking statements information and
statements which constitute "forward-looking information" under
Canadian securities law and which may be material regarding, among
other things, the Company's beliefs, plans, objectives, estimates,
intentions and expectations with respect to its capital and funding
plans. Inherent in the forward-looking information and statements are
known and unknown risks, uncertainties and other factors beyond the
Company's ability to control or predict, which give rise to the
possibility that the Company's predictions, forecasts, expectations or
conclusions will not prove to be accurate, that its assumptions may not
be correct and that the Company's plans, objectives and statements will
not be achieved. Actual results or developments may differ materially
from those contemplated by the forward-looking information and
statements. Consequently, undue reliance should not placed on such
On behalf of the Board of Directors of BIOSENTA Inc.
The CNSX has in no way passed upon the merits of the proposed
transaction and has neither approved nor disapproved of the contents of
this press release. Neither the CNSX nor its Regulation Services
Provider (as such term is defined in the policies of the CNSX) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE: BIOSENTA Inc.
For further information:
Bruce Lewis, President & Chief Executive Officer
1120 Finch Avenue West, Suite 503
Toronto, Ontario M3J 3H7
(416) 410 2019