Health Logic closes sale of subsidiary
by CM Staff
My Health Logic has become a wholly-owned subsidiary of Marizyme.
CALGARY — Health Logic Interactive Inc. has completed the previously announced sale of its wholly owned subsidiary, My Health Logic Inc. to Marizyme, Inc., a Nevada medical device company.
Health Logic stated that under the terms of the Arrangement Agreement, Marizyme has received all of the issued and outstanding shares of My Health Logic in exchange for 4,600,000 shares of common stock of Marizyme. As a result of the transaction, the company has disposed of all or substantially all of its assets. My Health Logic has become a wholly-owned subsidiary of Marizyme.
The company also stated that Marizyme’s product, DuraGraft, is currently under pre-submission review with the United States Food and Drug Administration. According to a company statement, DuraGraft has been approved in 34 countries. Finally, Marizyme stated that it plans to pursue a listing on the NASDAQ Stock Market within the next twelve months.
My Health Logic’s co-founders, Braeden Lichti, George Kovalyov, and Harrison Ross stated that with the sale of My Health Logic, they were able to receive a return of just over 77 per cent on their latest financing.
“We congratulate the founding scientific members and our co-managers in working together to close this transaction in a timely manner. We are looking forward to being a part of Marizyme and working to provide the Health Logic shareholders with continued value as we embark on new ventures,” they said in a statement.