PuraPharm to Vote Oct. 24 on Rheumatoid Arthritis Drug License, Share Issue Agreements

MT Newswires Live

10/02

Shareholders of PuraPharm (HKG:1498) will meet Oct. 24 to vote on the firm obtaining an exclusive license for BN101E from a company controlled by its CEO and chairman Chan Yu Ling, a Thursday Hong Kong bourse filing said.

BN101E is being developed as an anti-inflammatory botanical drug for the treatment of rheumatoid arthritis.

The traditional Chinese medicine company will issue nearly 93.5 million, or HK$40.2 million worth of shares to settle the payment due to the licensor.

Shareholders will also vote on the issue of over 46.5 million shares at HK$0.43 apiece to Providence Capital Group to raise gross proceeds of HK$20 million. Proceeds will be used to advance research of BN101E.

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