DENVER, Colo., June 18, 2019- (24/7MarketNews via COMTEX) Venture Market News for June 18, 2019.
Riviera Resources Announces Commencement of Tender Offer to Purchase Up To 2,666,666 Shares of Its Common Stock at a Purchase Price of $15.00 Per Share
HOUSTON, June 18, 2019 (GLOBE NEWSWIRE) — Riviera Resources, Inc. (OTCQX: RVRA) (“Riviera” or the “Company”) today announced that it is commencing a tender offer to purchase for cash up to 2,666,666 shares of its common stock (the “shares”) at a purchase price of $15.00 per share. The number of shares proposed to be purchased in the tender offer represents approximately 4.2% of the Company’s currently outstanding common stock. The Company announced its intention to make the offer after the market closed on June 13, 2019. The Company will use its cash on hand to fund the offer. Pro forma for the tender offer, the Company expects to have a positive cash balance to maintain operational flexibility.
CytoDyn Announces Major Discovery for its Monotherapy Indication
CytoDyn and IncellDx Report the Successful Development and Validation of an Assay to Assess the Responders for Monotherapy HIV Patients
This assay could predict in 2 hours the responder’s rate for a monotherapy patient candidate and the appropriate dose for each patient at the time of screening
VANCOUVER, Washington, June 18, 2019 (GLOBE NEWSWIRE) — CytoDyn Inc. (OTC.QB: CYDY), (“CytoDyn” or the “Company”), a late-stage biotechnology company developing leronlimab (PRO 140), a CCR5 antagonist with the potential for multiple therapeutic indications, announced today significant progress in securing the therapeutic effect and safety of leronlimab (PRO 140) with the development of an assay that can reliably determine a patient’s CCR5 status. Currently, all new patients in the Company’s monotherapy trial are being evaluated with this newly developed screening-level test with the objective of identifying patients expected to respond to a monotherapy versus those not expected to respond due to CCR5 density.
Halo Labs to Expand Globally and Acquire Bophelo Bioscience
Halo Labs Inc. (“Halo” or the “Company”) (NEO: HALO, OTCQX: AGEEF, Germany: A9KN) is pleased to announce that it has entered into a non-binding letter of intent (LOI) for the proposed acquisition of Bophelo Bioscience & Wellness (Pty) Ltd (“Bophelo”) (the “Transaction”). The Transaction is expected to strengthen the Company’s position in Lesotho, Africa, a country quickly becoming the continent’s export gateway to the global cannabis market. Lesotho is the first African country to grant medical marijuana licenses for cultivation and patient use and is making strides toward becoming the worldwide export hub for cannabis. Halo’s planned acquisition of Bophelo brings together two socially-minded companies on a shared mission to better the communities in Lesotho.
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