|By Marketwired .||
|September 19, 2013 06:27 PM EDT||
CALGARY, ALBERTA -- (Marketwired) -- 09/19/13 -- 1756349 Alberta Ltd. ("1756349") announces that, on September 19, 2013, it acquired ownership of an additional 5,092,023 common shares (the "Shares") of Galvanic Applied Sciences Inc. ("Galvanic") pursuant to a previously announced amalgamation (the "Amalgamation") of Galvanic and 1756349 under the Business Corporations Act (Alberta) pursuant to the terms of an amalgamation agreement between 1756349 and Galvanic dated August 22, 2013. In total, 1756349 has acquired ownership of an aggregate 16,811,072 common shares of Galvanic, representing 100% of the issued and outstanding common shares of Galvanic.
1756349 acquired the Shares for cash consideration of $1.70 per Share, or approximately $8.7 million in aggregate. 1756349 acquired the Shares in connection with the previously announced purpose of acquiring all of the issued and outstanding common shares of Galvanic.
The Amalgamation (as described in the management information circular (the "Circular") of Galvanic dated August 22, 2013) was approved by the shareholders of Galvanic on September 19, 2013.
A copy of the related early warning report (the "Report") to be filed with the applicable securities commissions may be obtained from the SEDAR website (www.sedar.com) under the profile for Galvanic.
For further information or to obtain a copy of the Report, please contact 1756349 as follows:
c/o 2SV Capital LLC 303 Wyman Street, Suite 300 Waltham, Massachusetts 02451 Telephone: (617) 444-9430 Attention: Drew Sawyer
2SV Capital LLC