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Relevium to acquire BioGanix for $4.5M

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Relevium to acquire BioGanix for $4.5M

Relevium Technologies Inc. entered into a definitive agreement to acquire certain assets of BioGanix Ltd. for about $4.5 million.

Previously, the company signed a binding letter of intent with BioGanix to acquire its assets for $4.3 million.

The company will be acquiring certain assets of BioGanix including inventories, e-commerce platforms, logistics platforms and marketing software, trade names, trademarks, trade secrets, licenses, inventions and technology relating to the entire current product line and pipeline of products in development.

Purchase price for the deal includes $2.7 million in cash, $200,000 in shares at the price of the concurrent financing and $1.6 million in a two-year vendor take back convertible note with an annual interest rate of 8% payable quarterly.

The transaction is subject to the closing of the concurrent financing and final approval by the TSX Venture Exchange.

BioGanix is a Houston-based, privately held nutraceutical company focused on products related to brain, heart and digestive health, as well as joint support sold online.