In order to make the best use of the prevailing market conditions, LEVON RESOURCES (OTCMKTS:LVNVF) has agreed to acquire SciVac Ltd. Reports claim that both the companies have signed a definitive agreement. As soon as the minimum conditions mentioned in the agreement are fulfilled, Levon will acquire all the outstanding and issued shares of SciVac. The company will go for a systematic arrangement decided by court to execute all the proceedings in an hassle free way.
Insights On The Matter:
The senior management team of Levon is excited to enter into this agreement and hopes that it will prove to be beneficial for the company in the long run. According to Ron Tremblay, CEO and President of LEVON RESOURCES (OTCMKTS:LVNVF), this transaction will not only help the company executing its operations in a hassle-free way, but also enhance the overall value for shareholders. The current market conditions are not supportive to Levon, but still it has successfully identified alternative market opportunities to create value for its shareholders, which is a significant achievement.
The acquisition of SciVac will facilitate Levon in many ways. Not only will it create the value for shareholders, but also give Levon the complete hold on SciVac’s sought after vaccine Sci-B-Vac. It’s a commercial product, probably the best vaccine available in the market to cure hepatitis B. United States and other countries are fighting hard with hepatitis B; hence, the availability of this vaccine can be a second to none market opportunity for the company. As soon as this transaction is executed, all the shareholders of the company will also be given an option to hold the shares of SciVac.
The company has made an arrangement according to which all of its shareholders will get 0.5 common share of 1027949 BC Ltd and 1 common share of Levon after execution of this agreement. Other details will be announced shortly.