Update on Merger Agreement with Caduceus Software Systems Corp
By: CEN Biotech Inc.
WINDSOR, Ontario - Aug. 29, 2019 - PRLog -- On June 21, 2019, CEN Biotech, Inc. (CEN) entered into a Merger Agreement (the "Merger Agreement") with Caduceus Software Systems Corp., a Wyoming corporation ("CSOC") and Caduceus Merger Sub, Inc., a Wyoming corporation and a wholly owned subsidiary of CSOC (the "Merger Sub"). Pursuant to the Merger Agreement, CEN, the Merger Sub and CSOC agreed to effect a merger transaction, pursuant to which CEN will merge with and into the Merger Sub, with CEN surviving and being a wholly owned subsidiary of CSOC (the "Merger").
Pursuant to the Merger Agreement, it was planned that the Merger, the Merger Agreement and the transactions contemplated thereby would close on or around August 30, 2019, subject to the satisfaction of certain conditions and covenants set forth in the Merger Agreement. However, such conditions and covenants have not yet been met, and on August 27, 2019, the parties to the Merger Agreement entered into Amendment No.1 to Merger Agreement pursuant to which the parties extended the termination date under the Merger Agreement from August 30, 2019 to December 31, 2019.
There can be no assurance that the Merger or the Merger Agreement will close, or that the transactions contemplated thereby can be completed as planned, or at all.
About CEN Biotech, Inc.
CEN Biotech, Inc. is a global holding company—dedicated to identifying and developing alternative approaches to business opportunities in diversified, yet related industries.
About Caduceus Software Systems Corp.
Caduceus Software Systems Corp. (OTC PINK: CSOC) designs and develops healthcare software. CSOC provides software for patient management, appointment scheduling, physician memorandum recording, medical symptoms monitoring, and ailment and digital image.
This press release contains "forward-looking"
Media Inquiries can be sent to:
Brian Payne, Vice President
CEN Biotech Inc.
(519) 419-4958, Extension 1506