Viridium completes acquisition of EFX Laboratories

On February 11, 2019, Viridium Pacific Group Ltd. ("Viridium") announced that it completed the acquisition of EFX Laboratories Inc. ("EFX") by way of an amalgamation of EFX and 2163903 Alberta Ltd., a wholly-owned subsidiary of Viridium, in accordance with the Business Corporations Act (Alberta).

Under the terms of the amalgamation agreement, Viridium acquired all of the issued and outstanding class A voting shares of EFX on the basis of 1 common share of Viridium for every 2.57 EFX shares, resulting in the issuance of 49,412,781 Viridium shares (including all EFX shares issued in connection with the exercise of in-the-money EFX options). In addition, all out-of-the-money EFX stock options were exchanged for an aggregate of 1,089,491 Viridium stock options.

Viridium is a consumer wellness and biotech innovation company based in British Columbia, and the parent company of Experion Biotechnologies Inc., a Health Canada licensed producer of cannabis, which operates in an 8,300 square-foot indoor facility outside of Mission, British Columbia.

EFX is a Canadian biotech company located in Calgary focused on medical cannabis applications and treatments and has developed several proprietary formulations for pain control, as well as a suite of value-added wellness products.

Further information can be found on Viridium's website.