MISSISSAUGA, ON & RICHMOND HILL, ON–(Marketwired – Oct 5, 2015) – CardioGenics Holdings Inc. (OTCQB: CGNH), developer of the ultra-sensitive QL Care™ analyzer, an immunoassay point-of-care analyzer, and other products for the In-Vitro-Diagnostics (“IVD”) testing market, announced today that it has entered into a binding letter of intent to acquire substantially all of the assets of Plasticap (“LOI). CardioGenics previously announced on August 25, 2015 that it had entered into a manufacturing agreement with Plasticap, pursuant to which Plasticap will manufacture CardioGenics’ proprietary self-metering cartridges for its QL Care™ analyzer.
The Purchase Price to be paid by CardioGenics for the Plasticap assets includes the issuance by CardioGenics of preferred stock, common stock and warrants to purchase CardioGenics common stock, as well as the assumption of certain debt instruments of Plasticap, the details of which are set forth in the LOI.
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