Progressus Clean Technologies intends to sell shares

Canadian pioneer of novel hydrogen generation and separation technologies, Progressus Clean Technologies revealed on Monday (August 1) an LOI which would see up to 100% of its issued and outstanding shares acquired.

Progressus announced it had executed a Letter of Intent (LOI) whereby the California, US-based firm, BioQuest acquire up to 100% of Progressus’ issued and outstanding shares.

H2 View understands the LOI sets out for Progressus shareholders to receive shares of BioQuest in exchange for the acquisition of the Toronto-headquartered company’s shares, which in turn would see Progressus become the primary business of BioQuest.

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