URO Urodynamix Technologies Ltd.

Urodynamix Technologies Ltd. (TSX VENTURE:URO) ("Urodynamix" or the "Company")
announces today that it has closed the transaction with HEGLN (Dalian)
Pharmaceuticals Inc. ("HEGLN") for the sale of the majority of its assets. As
part of the final negotiations for completing the transaction, Urodynamix
entered into a license termination agreement with the University of British
Columbia and an early termination agreement with the National Research Council
of Canada.


According to the asset purchase agreement with HEGLN made as of July 2, 2010,
Urodynamix received a deposit representing 10% of the $2.1 million purchase
price in September and a further 40% of the purchase price on closing. The
Company will receive 30% of the purchase price upon transfer of the physical
assets and tooling, and the final 20% upon transfer of manufacturing know-how.
The transfer of physical assets, tooling and manufacturing know-how is expected
to be completed prior to year-end.


"Management and the Board of Directors are actively pursuing strategic
alternatives for the Company post transaction to maximize shareholder value,"
said Barry Allen, President and CEO of Urodynamix.


Forward-looking Statements:

Certain information contained in this press release may be forward-looking and
is subject to unknown risks, which could cause actual results to differ
materially from those set forth or implied herein. Although the Company believes
that the expectations reflected in such forward-looking statements are
reasonable, it can give no assurance that such expectations will prove correct.

Urodynamix Technologies Ltd. (TSXV:URO)
Historical Stock Chart
Von Jul 2024 bis Aug 2024

Urodynamix Technologies Ltd. (TSXV:URO)
Historical Stock Chart
Von Aug 2023 bis Aug 2024