Melbourne, Australia;
15 May 2020 – OBM Terminates Acquisition Discussion with Lanka Graphite Limited
Melbourne, Australia; 18 February 2020 – OBM Signs Non-Binding Heads of Agreement with Lanka Graphite Limited
February 18, 2020Melbourne, Australia; 1 July 2020- OBM Enters R&D Agreement with Mackay Memorial Hospital (“MMH”)
July 1, 2020Oculus Biomed Limited (“OBM”) announces that it had requested to terminate the acquisition discussion with Lanka Graphite Limited (“LGR”) (ASX:LGR), effective immediately. OBM has no further liabilities in related with the HOA. In February 2020, OBM announced that it had entered into a non-binding Heads of Agreement (“HOA”) with LGR to acquire 100% of the issued share capital of OBM. Following to further discussion between two parties, the board of OBM concluded that there will be too much value dilution to OBM’s shareholders under the proposed new capital structure after the acquisition when the entire loan of LGR converted into equities by those debt-holders.
