SmallCapNewsRelease: (OTC: KKUR) Signs $25 million LOI Merger Agreement
(SmallCapNewsRelease, April 15,2010) – Jericho, N.Y. – ChromoCure Inc. announced today that it has signed a Letter of Intent with Genome Research Group (GRG). Under the terms of the Agreement, ChromoCure will acquire and merge with GRG and combine the Company’s operations and assets with all GRG Intellectual Property (IP) assets and operations.
The merger transaction is valued in excess of $25,000,000 and results in significant increases to shareholder equity and reductions in long-term liabilities. GRG management will assume control of the new entity. All current members of the ChromoCure Board and executive management will step down as part of the transaction. The Company intends to change its name to Genome Research Group to properly reflect its new operations. The ChromoCure brand will continue to be used to promote the Company’s collaborative research initiatives.
For full news release go to http://finance.yahoo.com/news/ChromoCure-Signs-LOI-With-iw-3667285174.html?x=0&.v=1
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