Harmony Acquisitions Announces Proposed Qualifying Transaction with Vimy Pharmaceuticals
VANCOUVER, BC, Aug. 6, 2026 /CNW/ -- Harmony Acquisitions Corp. (TSXV: MONY.P) ("Harmony" or the "Company") and Vimy Pharmaceuticals Inc. ("Vimy Pharma") are pleased to announce that they have entered into a non-binding letter of intent dated August 4, 2026 (the "LOI"), pursuant to which Harmony and Vimy Pharma intend to complete a business combination or other similarly structured transaction which will constitute a reverse take-over of Harmony (the "Transaction").
It is intended that the Transaction will be an arm's length "Qualifying Transaction" for Harmony, as such term is defined in Policy 2.4 of the Corporate Finance Manual of the TSX Venture Exchange (the "TSXV"). Trading of the common shares of the Company has been halted and it is expected that the common shares will remain halted until completion of the Transaction. The parties intend to rename the resulting issuer Vimy Pharmaceuticals Corp. upon completion of the Transaction.
In connection with the Transaction, Vimy Pharma has entered into an agreement with Beacon Securities Inc. ("Beacon") with respect to a concurrent financing of Vimy Pharma ("Concurrent Financing"), pursuant to which Beacon shall act as lead agent and sole bookrunner.
A comprehensive news release will be issued by Harmony and Vimy Pharma setting out the terms of the Transaction, which shall include information about Harmony upon closing of the Transaction and more information regarding the Concurrent Financing.
Overview of Vimy Pharma
Vimy Pharma is a Canadian pharmaceutical company focused on improving access to affordable medicines while supporting domestic pharmaceutical manufacturing capacity and long-term Canadian supply resilience. Vimy Pharma is advancing a portfolio of essential medicines as generic pharmaceutical products intended to support patients, healthcare systems, and Canada's life sciences sector.
A strategic priority for Vimy Pharma is expanding access to innovative therapies through the development of generic alternatives to popular medicines. By combining domestic production with cost-efficient manufacturing and regulatory expertise, Vimy Pharma seeks to provide affordable treatment options while contributing to Canada's pharmaceutical sovereignty.
Earlier this year, Vimy Pharma completed one of its development programs and filed an Abbreviated New Drug Submission (ANDS) with Health Canada, which has been found acceptable for review, for a generic version of Ozempic® (semaglutide injection), a glucagon-like peptide-1 (GLP-1) receptor agonist indicated for the treatment of type 2 diabetes. Ozempic® has been the highest-earning prescription medicine in Canada for the past four years with combined sales of semaglutide injection medicines in Canada totalling CAD$3.5 billion in 2025, growing at 31 percent over the previous year1. Vimy Pharma undertook its development work in Canada and will carry out its commercial production domestically, with Canadian partners. Additionally, Vimy Pharma has established partnerships to support the many large and growing international markets for injectable semaglutide.
Vimy Pharma is led by an experienced management team, including former executives from Novo Nordisk A/S, with broader organizational expertise spanning pharmaceutical development, manufacturing, regulatory affairs, commercialization, and capital markets. Vimy Pharma is committed to long-term value creation through disciplined execution, innovation, and the development of a sustainable domestic pharmaceutical ecosystem that serves patients, healthcare providers, and government partners and supports Canadian pharmaceutical supply resilience and access to medicines. For more information, visit www.VimyPharma.com.
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Harmony Acquisitions Corp.
Harmony was incorporated under the Business Corporations Act (British Columbia) on May 7, 2021 and is a Capital Pool Company listed on the TSXV.
Advisors
Wildeboer Dellelce LLP is acting as legal counsel to Vimy Pharma in connection with the Transaction, and Dentons Canada LLP is acting as legal counsel to Harmony.
Cautionary Note Regarding Forward-Looking Information
This press release contains statements that constitute "forward-looking information" ("forward-looking information") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates, and projections as of the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events, or performance (often but not always using phrases such as "expects", "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events, or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information.
In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions, including that the Transaction and the Concurrent Financing will be completed on acceptable terms or at all and all applicable shareholder and regulatory approvals for the Transaction will be received. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include but are not limited to: availability of financing; delay or failure to receive board, shareholder, or regulatory approvals; and general business, economic, competitive, political, and social uncertainties.
Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information, or otherwise.
All information provided in this press release relating to Vimy Pharma has been provided by management of Vimy Pharma and has not been independently verified by management of the Company. As of the date of this press release, the Company has not entered into a definitive agreement with Vimy Pharma with respect to the Transaction (the "Definitive Agreement"), and readers are cautioned that there can be no assurances that a Definitive Agreement will be executed.
Completion of the Transaction is subject to a number of conditions, including but not limited to TSXV acceptance and, if applicable pursuant to TSXV requirements, majority of the minority shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the filing statement (or other applicable disclosure document) of Harmony to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Harmony should be considered highly speculative.
The TSXV has in no way passed upon the merits of the Transaction and has not approved or disapproved of the contents of this news release.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Not for distribution to United States newswire services or for dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
SOURCE Vimy Pharma
For further information, please contact: Harmony Acquisitions Corp.: Zachary Goldenberg, [email protected], 647-987-5083; Vimy Pharmaceuticals Inc.: Farris Smith, [email protected]
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