TORONTO--(BUSINESS WIRE)--Medgen, Inc. (OTC: MDIN) has entered into a Letter of Intent to acquire 9430075 Canada Ltd. operating as Magnifind.ca (“Magnifind”) based in Winnipeg, MB.
This acquisition, which is expected to be completed upon Magnifind US GAAP Audit being finished, puts Medgen squarely into the Medical Services related field. We anticipate that the acquisition should be completed within the next 60 days. In addition, Medgen has just completed two years of audits itself in preparation for filing a Form 10 with the SEC. The Form 10 will be filed upon the Magnifind acquisition being completed. Once the Form 10 goes effective Medgen will once again be a SEC reporting issues (12g company).
As a result of the potential acquisition, Mr. Bradford Brock resigned as an officer and director of the Company and Mr. Michael Kahiri was appointed as President, Chief Executive Officer and Director of the Company.
About Medgen, Inc.:
Medgen, Inc. is a Medtech and LifeSciences Company focused on commercialization and Investment.
Magnifind.ca is a Canadian-owned tech company that was motivated and created out of the necessity to help consumers find the vital health information and referrals they need.
Our secure, one-stop online health and wellness platform helps consumers at no charge to identify the best options and resources available to them. Whether you are having difficulty accessing care, need a second opinion or feel like you've exhausted all health options, Magnifind.ca is here for you! Our network of dedicated and compassionate Association partners provides vital support groups, programs and services direct to you. More information at www.magnifind.ca.
Forward looking Statements
This press release contains forward-looking statements that reflect the Company's current beliefs, expectations or intentions regarding future events. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "will," "will be," "anticipate," "predict," "expect" "continue," "future," and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of the Company and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to: future projects, orders, revenues, expenditures, capital or other funding requirements, the adequacy of the Company's current cash and working capital to fund present and planned operations and financing needs, and the growth of the Company's business and operations through strategic joint ventures. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent current Disclosure Statements available at www.otcmarkets.com. The Company anticipates that subsequent events and developments may cause views and expectations to change. The Company assumes no obligation, and they specifically disclaim any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.