SciVac Ltd. and LEVON RESOURCES (OTCMKTS:LVNVF) have announced that they have decided to enter into a definitive agreement. As soon as this agreement is signed, Levon will become eligible to acquire 100% of the outstanding and issued shares of SciVac Ltd. legally. The company has a court-approved plan in place to execute things with complete efficacy.
It’s a wonderful step taken by Levon. The entire management team of the company is excited to make this news public. According to Ron Tremblay, CEO and President of LEVON RESOURCES (OTCMKTS:LVNVF), it’s a great moment for Levon. This acquisition will not only enhance the financial strength of the company, but also generate value for shareholders, in the long run.
There is a dearth of effective resource issuers in today’s competitive market. At such a crucial time, Levon has decided to join hands together with SciVac. This transaction has not only saved company’s capital, but also ensured that it could fulfill shareholders’ expectations.
With this acquisition, Levon has got the ownership of ci-B-Vac, which is one of the most sought after commercial hepatitis B vaccine in today’s time. It will prove to be beneficial for the company in the coming days. All the shareholders of Levon will continue to have an interest in existing assets and business of the company by receiving shares of SciVac Ltd. It will be a win-win situation for all the shareholders.
Once the transaction is executed, all the shareholders of Levon will get half common share of a newly formed exploration company named 1027949 BC Ltd. They will also be given one new common share of Levon in exchange for every Levon share that they have. All in all, upon the execution of this agreement, all the shareholders will have 31.6% of outstanding and issued new Levon shares and 100% of outstanding and issued Spinco Shares.