logo
Share SHARE
FONT-SIZE Plus   Neg

Paladin Labs Acquires Allon Therapeutics Inc.

Paladin Labs Inc. (PLB.TO), and Allon Therapeutics Inc. (NPC.TO) announced that in accordance with the Order for Reorganization in Allon's proposal proceedings under the Bankruptcy and Insolvency Act and under the Canada Business Corporations Act which have been previously announced, Paladin has become the sole shareholder of Allon.

The company said that immediately prior to Paladin becoming the sole shareholder of Allon, all existing issued and outstanding shares and other securities of Allon were, pursuant to the Court Order, cancelled without payment or other consideration.

One of the other consequences of Paladin becoming the sole shareholder of Allon is that Allon will cease being a reporting issuer in Canada, the company noted.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Apple typically schedules its iPhone launch event in September every year. However, the tech giant has not made any official announcement about the new iPhone 7 event date yet. According to popular and reliable leaker Evan Blass, Apple will ship iPhone 7 during "the week of September 12." He later... At Home Group Inc., the home décor retail store with 115 stores in 29 states is planning to go public. The pricing of initial public offering is expected in a range of $14 to $16 per share. The company in a filing with the SEC said it has got the approval to list the shares on the NYSE under symbol "HOME." McDonald's Corp. has suspended sales of Big Macs in Venezuela as the fast food chain is unable to source buns - one of the key components of a burger. Venezuela is suffering from food shortages recently due to an ongoing economic and political crisis.
comments powered by Disqus
Follow RTT