MONTREAL and VANCOUVER, Canada I July 16, 2013 I Paladin Labs Inc. (PLB.TO) (“Paladin” and/or the “Company”), a leading Canadian specialty pharmaceutical company, and Allon Therapeutics Inc. (NPC.TO) announced today that in accordance with the Order for Reorganization in Allon‘s proposal proceedings under the Bankruptcy and Insolvency Act (Canada) and under the Canada Business Corporations Act which have been previously announced, Paladin has become the sole shareholder of Allon.
Immediately prior to Paladin becoming the sole shareholder of Allon, all existing issued and outstanding shares and other securities of Allon were, pursuant to the Court Order, cancelled without payment or other consideration. One of the other consequences of Paladin becoming the sole shareholder of Allon is that Allon will cease being a reporting issuer in Canada.
Please also refer to the Allon’s press releases dated May 30 and July 10, 2013 related to additional background on the transaction.
About Paladin Labs Inc.
Paladin Labs Inc., headquartered in Montreal, Canada, is a leading specialty pharmaceutical company focused on developing, acquiring or in-licensing innovative pharmaceutical products for the Canadian market. With this strategy, a focused national sales team and proven marketing expertise, Paladin has evolved into one of Canada’s leading specialty pharmaceutical companies. Paladin’s shares trade on the Toronto Stock Exchange under the symbol PLB. For more information about Paladin, please visit the Paladin Web Site at www.paladinlabs.com.
SOURCE: Paladin Labs
Post Views: 238
MONTREAL and VANCOUVER, Canada I July 16, 2013 I Paladin Labs Inc. (PLB.TO) (“Paladin” and/or the “Company”), a leading Canadian specialty pharmaceutical company, and Allon Therapeutics Inc. (NPC.TO) announced today that in accordance with the Order for Reorganization in Allon‘s proposal proceedings under the Bankruptcy and Insolvency Act (Canada) and under the Canada Business Corporations Act which have been previously announced, Paladin has become the sole shareholder of Allon.
Immediately prior to Paladin becoming the sole shareholder of Allon, all existing issued and outstanding shares and other securities of Allon were, pursuant to the Court Order, cancelled without payment or other consideration. One of the other consequences of Paladin becoming the sole shareholder of Allon is that Allon will cease being a reporting issuer in Canada.
Please also refer to the Allon’s press releases dated May 30 and July 10, 2013 related to additional background on the transaction.
About Paladin Labs Inc.
Paladin Labs Inc., headquartered in Montreal, Canada, is a leading specialty pharmaceutical company focused on developing, acquiring or in-licensing innovative pharmaceutical products for the Canadian market. With this strategy, a focused national sales team and proven marketing expertise, Paladin has evolved into one of Canada’s leading specialty pharmaceutical companies. Paladin’s shares trade on the Toronto Stock Exchange under the symbol PLB. For more information about Paladin, please visit the Paladin Web Site at www.paladinlabs.com.
SOURCE: Paladin Labs
Post Views: 238
