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.
Forward-looking statements
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.