On February 14, 2022, SQI Diagnostics Inc. ("SQI") (TSXV: SQD) (OTCQB: SQIDF) announced that it had completed its previously announced asset acquisition of Precision Biomonitoring Inc.'s ("PBI") human diagnostic COVID-19 PCR testing business and its TripleLock" molecular diagnostic testing technology.
Pursuant to the terms of the definitive agreement, SQI acquired the assets through its wholly owned subsidiary, SQI Diagnostic Systems Inc., for aggregate consideration of $6,825,000 consisting of cash and common shares in the capital of SQI.
Gowling WLG advised PBI with respect to this transaction with a team led by Thomas Hunter and that included Irena Kramer and Michelle Kumar.
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