MONTREAL, May 6, 2020 /CNW/ - Mondias Natural Products Inc. (TSXV: NHP) (the "Company" or "Mondias ") has decided to terminate the acquisition of substantially all the assets of Erablier Inc. that was previously announced on March 19th, 2020.
Under the initial scenario, a series of tasting events and promotional activities were to be carried in spring 2020 to precede the official launch of the Erablier products. With the COVID 19 pandenic still in force, it became apparent that none of the planned events could be successfully carried. The postponement of such activities implied a full year delay and, from a strategic perspective, that project could no longer be viable for Mondias.
While Mondias decided to focus on the commercialization and development of evidence-based botanical products for the healthcare, bio-agriculture and organic markets, Mondias will continue to look for opportunities to add to its products offering.
None of the 1,666,667 common shares of Mondias issuable pursuant to the acquisition of the assets of Érablier Inc., will be issued.
About Mondias Natural Products Inc.
Mondias specializes in the commercialization and development of evidence-based botanical products for the healthcare, bio-agriculture and organic markets. The company sells both oral and topical botanical agents to help manage unmet medical needs through its Holizen Laboratories division. Mondias is also developing botanical-based specialty fertilizers for use on household plants, lawns and golf courses and in urban gardens, nurseries and greenhouses, in collaboration with McGill's Faculty of Agricultural and Environmental Sciences. For more information, visit: www.mondias.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Some statements in this release may contain forward-looking information. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by the use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include the Company's inability to obtain sufficient financing to execute its business plan; competition; regulation; anticipated and unanticipated costs and delays; the success of the Company's research and development strategies; the ability to obtain orphan drug status; the applicability of the discoveries made; the successful and timely completion and uncertainties related to the regulatory approval process; the timing of clinical trials; the timing and outcomes of regulatory or intellectual property decisions; and other risks disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities. Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in forward-looking statements, there may be other factors that cause results or events not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and the Company does not undertake any obligation to publicly update them to reflect new information or subsequent events or otherwise except as required by applicable securities legislation.
SOURCE Mondias Natural Products Inc.
For further information: Mondias Natural Products Inc., Mario Paradis, Chief Financial Officer, 514-641-0181, [email protected]