Theramed Announces Mutual Termination, Settlement, and Option to Acquire Operator - Developer of Its Medical Health System and Update to Spinoff Event for EGF Health Holdings Corp.

Jul 27, 2019

VANCOUVER, BC / ACCESSWIRE / Friday July 26, 2019 / Theramed Health Corporation (CSE: TMED, OTCQB: EVAHF) (the “Company”) is pleased to announce the ongoing standstill with its research operator for the medical system has been settled with a mutual termination, settlement and option to acquire 100% of the operator-developer. The parties agreed to a mutual release and cancelling $224,169 of accrued development fees that was payable from the Company. In addition, any business intelligence or know-how in relation to the medical health system that was under development would be made available to the Company. The Company also acquired an option to purchase the operator-developer for $1,000 in addition to 5% in cash payments for a ten year term, resulting from gross revenues generated by the systems or intellectual property of the operator.

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