/NOT FOR DISSEMINATION IN THE U.S. OR THROUGH U.S. NEWSWIRES/
TORONTO, May 15, 2014 /CNW/ - PBM Pharmaceuticals, Inc. ("PBM"), carrying on business as Revive Pharmaceuticals, announced that on May 15, 2014 it acquired ownership of an aggregate of 4,605,833 common shares of Concordia Healthcare Corp. (the "Company") (TSX: CXR) by way of a private placement (the "Share Acquisition"). PBM entered into an asset purchase and sale agreement dated as of March 19, 2014 (the "Purchase Agreement") in respect of the sale of Donnatal®, an adjunctive therapy in the treatment of irritable bowel syndrome and acute enterocolitis, to the Company for US$200 million in cash and an aggregate of 4,605,833 common shares of the Company.
As a result of the Share Acquisition, PBM collectively owns or controls, directly or indirectly, an aggregate of 4,605,833 common shares representing approximately 16.17% of the Company's issued and outstanding common shares.
PBM completed the Share Acquisition for investment purposes only. PBM has no current intention of acquiring ownership of or control or direction over any additional common shares of the Company but reserves the right to acquire additional common shares of the Company, to sell all or any portion of its holdings of such common shares or to enter into other transactions with respect to the common shares of the Company owned by PBM.
SOURCE: PBM Pharmaceuticals, Inc.
For further information: please contact Damian deGoa, Managing Director, Telephone Number: 434.980.8102 or via email at [email protected]