Lattice Biologics Inc. is pleased to announce that it has completed its merger with Blackstone Ventures Inc. Pursuant to the transaction, stockholders of Lattice (in exchange for all of the issued common stock of Lattice) received 7,529,705 post-consolidated common shares and 31,375,648 unlisted non-voting restricted shares of Blackstone. Blackstone was renamed to Lattice Biologics Ltd (LBL) on closing of the merger.
In connection with the transaction, Blackstone raised aggregate gross proceeds of CDN$1.57 million, of which CDN$550,000 was previously advanced to Lattice as a working capital loan on 6 October 2015.
The directors of Lattice Biologics Ltd (formerly Blackstone) are Guy Cook, Cheryl Farmer, Mario Stifano, Cathy Thomas and Donald McInnes. Mr Cook will serve as Chief Executive Officer, Ms Farmer will serve as Chief Financial Officer and Corporate Secretary, and Gregory Davis will serve as Chief Operating Officer of Lattice Biologics Ltd.
Final TSX Venture Exchange approval for the acquisition and related transactions and re-commencement of trading on the exchange remains subject to the resulting company completing all applicable filing requirements under exchange policies.
“We are pleased to finalize the acquisition transaction with Blackstone and Donald McInnes. We are excited about the future prospect of building LBL into an industry leader in regenerative medicine,” said Guy Cook, President of Lattice.