IGEA Pharma N.V. / Key word(s): Agreement/Agreement
13-Jul-2022 / 00:10 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
IGEA PHARMA HAS ANNOUNCED THAT LMH – AN INDUSTRIAL HOLDING COMPANY – HAS COMPLETED THE DUE DILIGENCE PROCESS FOR A EURO 6.000.000 COMMITTMENT TO FUND THE SWISS CBD EXTRACTION FACILITY .
Hoofddorp, the Netherlands, 13th July 2022. Today IGEA Pharma N.V. (SIX: IGPH) has announced that LMH Holding has completed the due diligence process on the Company in relation to its Euro 6.0 million commitment to fund the GMP-Pharma CBD extraction facility owned through its joint-venture Blue Sky Swisse S.A.
The commitment will become final and binding only after the signing of the investment agreement, the transaction is expected to close in the next three weeks.
With the new funding IGEA Pharma forecasts that the joint-venture will start production by Q2 2023 and expects a turnover of approximately Euro 30.0 million with an expected EBITDA margin of approximately 32.0%in 2023.
IGEA Pharma N.V. focuses through its Joint Venture onindustrial CO2 supercritical extraction of CBD and other valuable components from their vegetable matrices for health prevention, pharma, food&beverage and other selected industries, with an innovative early-stage commercial and highly diversifiable pipeline.The company aims to become a center of excellence on highly controlled vegetable matrices and their industrial extraction technology. On the other hand, Igea operates on preventative health-tech products and devices, commercializing an Alzheimer’s prevention set (which includes ’Alz1’, an at-home lab test kit to measure non-bound copper in the blood and a natural dietary supplement branded ‘Alz1 Tab’ designed to reduce blood heavy metals content) and expects to integrate the non-bound copper detection-based pipeline with a diabetes type II prevention set in the next future. IGEA furthermore commercializes a COVID19 rapid test for the detection of IgM and IgG SARSCoV-2 related antibodies.
IGEA is listed on the SIX Swiss Exchange (ticker IGPH) and is headquartered in Hoofddorp, the Netherlands. Find out more at www.igeapharma.nl
About LMH Holding
LMH SpA is a holding company headquartered in Padua, Italy operating in the Real Estate, Finance and Private Equity. It has been recently established as a boutique investment holding leveraging decades of business experience of a seasoned management team that has fully committed to the long-term vision of the founders. In the Private Equity sector, LMH is currently focused on building a solid portfolio of holdings, targeting future global champions that have untapped growth potentials, regardless of their fields of activity, from healthcare to fashion.
Find out more at www.lmh-holding.com
Vincenzo Moccia, CEO, +39 340 583 09 33, firstname.lastname@example.org
This document constitutes neither an offer to buy nor to subscribe securities and neither this document nor any part of it should form the basis of any investment decision in IGEA. The information contained in this press release has been carefully prepared. However, IGEA bears and assumes no liability of whatever kind for the correctness and completeness of the information provided herein. IGEA does not assume an obligation of whatever kind to update or correct information contained in this press release whether as a result of new information, future events or for other reasons. This publication may contain specific forward-looking statements and assessments or intentions concerning IGEA and its business. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development, or performance of IGEA and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties, readers should not rely on forward-looking statements. IGEA assumes no responsibility to update forward looking statements or to adapt them to future events or developments, except as may be required by law.
End of ad hoc announcement
|Company:||IGEA Pharma N.V.|
|2123 WT Hoofddorp|
|Phone:||+31 23 568 9494|
|Listed:||Regulated Unofficial Market in Frankfurt; SIX Swiss Exchange|
|EQS News ID:||1396713|
|End of Announcement||EQS News Service|