Element Nutritional Sciences Inc (TSE:MUSL) has released an update.
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Promino Nutritional Sciences Inc. has announced a significant move to acquire Helios Helium Corp. through an amalgamation transaction, involving a strategic arrangement where Helios will spin out certain assets and merge its remaining cash and securities with a Promino subsidiary. Shareholders of Helios will receive a proportionate amount of shares in the new entity, Promino Nutritional Holdings Inc., and Helios’s outstanding convertible securities will be adjusted accordingly. This transaction follows a bridge loan from Helios to Promino, which is expected to be forgiven upon completion of the deal.
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