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17 July 2024

Contagious, IMBiotechnologies enter LOI for RTO

2024-07-17 17:49 ET - News Release

Mr. Craig Loverock reports

CONTAGIOUS GAMING ENTERS INTO LETTER OF INTENT WITH IMBIOTECHNOLOGIES FOR PROPOSED REVERSE TAKEOVER AND CONCURRENT FINANCING

Contagious Gaming Inc. and IMBiotechnologies Ltd., a corporation existing under the laws of Alberta, have entered into a non-binding letter of intent dated July 17, 2024 (the LOI), pursuant to which Contagious Gaming and IMBiotechnologies intend to complete a business combination or other similarly structured transaction which will constitute a reverse takeover of Contagious Gaming. In connection with the transaction the common shares of the company are expected to be voluntarily delisted from the TSX Venture Exchange and will subsequently apply for listing on the Canadian Securities Exchange (the CSE).

The LOI is to be superseded by a business combination agreement (the definitive agreement) to be signed on or prior to Oct. 15, 2024, or such later date as may be mutually agreed upon by the parties in writing. The transaction is subject to requisite regulatory approval, including the approval of the TSX-V, and the CSE and standard closing conditions, including the approval of the directors of each of Contagious Gaming and IMBiotechnologies of the definitive agreement, completion of due diligence investigations to the satisfaction of each of the parties, and the conditions described herein. The legal structure for the transaction will be confirmed after the parties have considered all applicable tax, securities law and accounting efficiencies.

IMBiotechnologies

IMBiotechnologies is an Edmonton-based medical device company founded in 2008. The company is focused on the growing embolotherapy markets, globally. IMBiotechnologies's focus is on commercializing its Ekobi products. Ekobi is used in embolotherapy procedures to treat several benign and malignant hypervascular conditions in the human body, including benign or cancerous hypervascularized tumours, uterine fibroids, and enlarged prostates. Additional treatment indications undergoing clinical testing include Osteoarthritic joint pain (that is, knee pain) and obesity.

Embolotherapy market

Embolotherapy is a routine, minimally invasive, non-surgical procedure broadly in use since the 1960s. The purpose of embolotherapy is to block the blood vessels that feed a target tissue, starving the tissue of essential oxygen and nutrients. Blocking the blood vessels leads to death or regression of target tissue while achieving a therapeutic benefit. An embolotherapy procedure is routinely performed by an interventional radiologist (an IR) or other physicians trained in embolotherapy procedures. Recent reports on the global embolization particle market indicate that global embolization particle sales in 2022 were $2.2-billion (U.S.). This market is estimated to grow at an 8-per-cent compound annual growth rate until 2028 when it will reach $3.5-billion (U.S.) (Global Embolization Particle Market Research Report by Market Research Future, Maia research).

Ekobi

Ekobi was developed as a next generation embolic to provide patients with a biodegradable alternative to non-degradable "permanent" embolic agents, with the aim of making Ekobi the safest, most effective embolic agent on the market today. The Ekobi family of products has achieved regulatory approvals in Canada (Health Canada Class IV medical device licence), United States (FDA 510k clearance, Class II), Israel (Class II) and Iran (Class D).

Ekobi Embolization microspheres was engineered to address current embolic industry challenges:

Biodegradable:
- Biodegrades in four to six months; delivering the same outcome as permanent implants -- current embolic agents are permanent, polymer (plastic) implants that never leave the body.
- Safely breaks down into CO2 (carbon dioxide) and water and are completely eliminated from body after providing therapeutic benefit.
Ultrasound detectable:
- Real-time microsphere detection with standard ultrasound current embolics are not directly detectable during implantation which increases the difficulty of the procedure.
- Potential to reduce radiation exposure as current embolics require fluoroscopy that exposes patient and physician to radiation.
Enhanced clotting mechanism:
- Only embolic to use platelet binding that increases effectiveness of the procedure.
- Creates natural clot efficiently blocks blood flow.
Superior tissue targeting:
- Designed to achieve targeted treatment and reduce damage to non-target tissue as embolic agents can end up in other areas of the body causing harm to patients.

The proposed transaction

Preclosing capitalization of Contagious Gaming

As of the date hereof, Contagious Gaming has 94,036,835 common shares issued and outstanding and securities exercisable or exchangeable for, or convertible into, or other rights to acquire, an aggregate of 9,222,000 Contagious shares at various exercise prices per Contagious share. The Contagious shares are currently listed on the TSX-V under the symbol CNS.

As a condition to closing the transaction immediately prior to closing, and subject to Contagious shareholder approval, Contagious will undertake a share consolidation of approximately 1:100.

Preclosing capitalization of IMBiotechnologies

There are expected to be at the time of closing 18,890,387 common shares in the capital of IMBiotechnologies issued and outstanding, 70,700 IMBiotechnologies share purchase warrants, and 25,000 stock options of IMBiotechnologies outstanding. In addition, there are 100,000 restricted share units (RSUs) of IMBiotechnologies outstanding.

Terms of the transaction

It is currently anticipated that Contagious Gaming will acquire IMBiotechnologies by way of a three-corner amalgamation, share exchange, plan of arrangement or other similar form of transaction as agreed by the parties to ultimately form the resulting issuer. The final structure of the transaction is subject to the receipt of tax, corporate and securities law advice for both Contagious Gaming and IMBiotechnologies. Upon completion of the transaction, the resulting issuer will carry on the business of IMBiotechnologies.

Contagious Gaming will issue IMBiotechnologies 18,890,387 common shares in the capital of the resulting issuer on completion of the transaction.

IMBiotechnologies financing

Prior to completing the transaction, IMBiotechnologies intends to complete a private placement for gross proceeds of a minimum of $2-million at a price to be determined in the context of the market.

The proceeds of the financing will be used for general corporate and working capital purposes and to finance commercialization of IMBiotechnologies' Ekobi Embolization Microspheres.

Officers and board of directors of the resulting issuer

Michael Stewart, CEO (chief executive officer) and director

Mr. Stewart will serve as the president, chief executive officer and chairman of the company. Mr. Stewart is co-founder of the company and intellectual property inventor. He has over 30 years of senior executive and research experience in the medical device and biopharmaceutical sector. He is the inventor on biopharmaceutical patents covering in-vitro diagnostics and therapeutics. Mr. Stewart has a BSc in microbiology and an MSc in experimental medicine from the University of Alberta.

Dr. Irwin Griffith, COO (chief operating officer)

Dr. Griffith will serve as chief operating officer of the company. Dr. Griffith is co-founder of the company and intellectual property inventor. He has over 35 years of experience in developing therapeutics and medical devices holding senior executive positions in project management, product development, business development and manufacturing. Dr. Griffith has a PhD from Cornell University, with a postdoctoral fellowship at Harvard.

Manish Grigo, CFO (chief financial officer)

Mr. Grigo will serve as chief financial officer of the company and has over 15 years of experience in capital markets as a research analyst, with sector and special situations coverage. He has extensive experience advising companies on capital markets strategy across a wide range of sectors, including technology. Mr. Grigo has an MBA from Cardiff University and is a CFA charterholder.

Dr. Ruth Collins-Nakai, director

Dr. Collins-Nakai will serve as a director of the company. She has over 30 years of experience as a pediatric cardiologist at the University of Alberta. She is a recipient of the Order of Canada and founding member of the Canadian Institute of Health Research's Governing Council (CIHR). Dr. Collins-Nakai is also the past chair of governors and member of the executive and board of trustees of the American College of Cardiology.

Doug Deeth, director

Mr. Deeth will serve as a director of the company. He has over 25 years of experience in intellectual property and technology law, concentrating on licensing and litigation matters. He is the founder and managing partner of the Deeth Williams Wall law firm (Toronto). Mr. Deeth is the former president of the intellectual property section of the Canadian Bar Association.

Craig Loverock, director

Mr. Loverock will serve as a director of the company. He is a CPA and CA with over 25 years of experience in senior finance and executive roles. He is the current CFO of Stronach International Inc. and has a significant record as CFO of private and public companies

Eugene Chen, director

Mr. Chen will serve as a director of the company. He is a partner at McLeod Law LLP and has over 25 years of experience as a securities, corporate finance, and mergers and acquisitions lawyer. Mr. Chen has deep experience in advising emerging and growth-oriented companies.

Trading in Contagious shares has been halted in accordance with the policies of the TSX-V and will remain halted until such time as all required documentation in connection with the transaction has been filed with and accepted by, and permission to resume trading has been obtained from, the TSX-V. There can be no assurance that trading of Contagious shares will resume prior to the completion of the transaction.

About Contagious Gaming Inc.

Contagious Gaming is in the business of developing and investing software solutions for regulated gaming and lottery markets. The company is focused on leveraging its existing assets into in business-to-business (B2B) for the B2B gaming marketplace.

12 June 2024

IMBiotechnologies Signs Supply Agreement with Medicus Management

EDMONTON, AB / ACCESSWIRE / June 12, 2024 / IMBiotechnologies Ltd. ("IMBiotechnologies") is pleased to announce the signing of a supply agreement with Medicus Management, LLC ("Medicus"), a group purchasing organization (GPO) currently supplying twenty office-based laboratory (OBL) and ambulatory surgical center (ASC) clinics focused on minimally-invasive procedures.

"IMBiotechnologies' Ekobi® microspheres product is truly unique compared to the competitive embolic agents on the market," said J. Joseph Hewett, MD, President of Medicus. "The biodegradability and ultrasound detectability features of Ekobi has the potential to improve the overall safety and efficacy of an embolization procedure, especially in up-and-coming procedures such as treatment of knee pain due to osteoarthritis."

"We are delighted with the opportunity to work with Medicus as they continue to grow in the ambulatory market," said Michael Stewart, CEO of IMBiotechnologies. "We look forward to working with Medicus to further develop and expand the use of our Ekobi® Embolization Microsphere product."

Ekobi® Embolization Microspheres

Ekobi® Embolization Microspheres, is a first-in-class, biodegradable embolic agent that is detectable by ultrasound. Ekobi® Embolization Microspheres are approved in the US for treatment of unresectable/inoperable hypervascularized tumors, and in Canada for the treatment of malignant and non-malignant hypervascularized tumors (HVT), uterine fibroids, and enlarged prostates due to benign prostatic hyperplasia (BPH).

About Medicus Management, LLC

Medicus Management is a full-service business intelligence partner for vascular outpatient practices, founded by a physician for physicians. Medicus prides itself on tailoring offerings to meet the specific needs of endovascular practices in both Office-Based Labs (OBL) and Ambulatory Surgery Centers (ASC). By leveraging large-volume purchasing from over fifteen device companies and optimizing resource management, Medicus aims to maximize fiscal performance while equipping like-minded physician practices with the tools to provide best-in-class medical care.

About IMBiotechnologies Ltd.

IMBiotechnologies Ltd is a privately held Canadian medical device company located in Edmonton, Alberta, focused on the commercialization of medical products in the area of embolotherapy. The company's mission is to create and commercialize innovative products that treat human disease and improve quality of life.

For More Information Please Contact:

Michael Stewart, President & CEO
+1-780-945-6609
Email: mstewart@imbiotechnologies.com

Manish Grigo
+1-416-569-3292
Email: mgrigo@imbiotechnologies.com

Forward Looking Statements:

This press release may contain forward-looking statements and predictions. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. The Company considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but cautions that these assumptions regarding the future events, many of which are beyond the control of the Company, may ultimately prove to be incorrect. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information or future events and except as required by law.

21 February 2024

IMBiotechnologies Signs Supply Agreement with Embol Experts

EDMONTON, AB / ACCESSWIRE / February 21, 2024 / IMBiotechnologies Ltd. ("IMBiotechnologies") is pleased to announce the signing of a supply agreement with Embol Experts, LLC ("Embol Experts"), one of the largest group purchasing organizations (GPOs) in the US supplying office-based laboratory (OBL) and ambulatory surgical center (ASC) clinics focused on minimally-invasive procedures.

"We are excited to be working with IMBiotechnologies as their Ekobi® microspheres are truly unique compared to the other embolic agents on the market," said Keerthi Prasad, MD, Principal of Embol Experts. "We believe, the biodegradability and ultrasound detectability features improve the overall safety and efficacyof the procedure, enhancing patient outcomes."

"We are delighted with the opportunity to work with Embol Experts as they continue to grow in the ambulatory market," said Michael Stewart, CEO of IMBiotechnologies. "We look forward to working with Embol Experts to further develop and expand the use of our Ekobi® Embolization Microsphere product."

Ekobi® EmbolizationMicrospheres

Ekobi® Embolization Microspheres, is a first-in-class, biodegradable embolic agent that is detectable by ultrasound. Ekobi® Embolization Microspheres are approved in the US for treatment of unresectable/inoperable hypervascularized tumors and in Canada for the treatment of malignant and non- malignant hypervascularized tumors (HVT), uterine fibroids, and enlarged prostates due to benign prostatic hyperplasia (BPH).

About Embol Experts, LLC.

Embol Experts, LLC is a joint venture between Arthritis Knee Pain Centers and Embolix. Arthritis Knee Pain Centers are centers of excellence, treating the debilitating pain of osteoarthritis without the need for opioids or surgery. Embolix is the market leader in outpatient embolization procedures and partnerships. Together, these companies have achieved exponential growth by providing patients with cost-effective pain-relieving technologies and procedures.

About IMBiotechnologies Ltd.

IMBiotechnologies Ltd is a privately held Canadian medical device company located in Edmonton, Alberta, focused on the commercialization of medical productsin the area of embolotherapy. The company's mission isto create and commercialize innovative productsthat treat human disease and improve quality of life.

For More Information Please Contact:

Michael Stewart, President & CEO
+1-780-945-6609
Email: mstewart@imbiotechnologies.com

Manish Grigo
+1-416-569-3292
Email: mgrigo@imbiotechnologies.com

05 November 2019

IMBiotechnologies Ltd. Expands Approval for Ekobi^TM Embolization Microspheres to Include Treatment of Uterine Fibroids

Ekobi^TM Embolization Microspheres, a novel embolization medical device has received Health Canada approval for the treatment of uterine fibroids, a significant women’s health issue.

IMBiotechnologies Ltd. (“IMB” or the “Company”) today announced that it has received approval from Heath Canada to expand the indications of its lead product, Ekobiä Embolization Microspheres (“Ekobi”), to include treatment of uterine fibroids.

Uterine fibroids are a significant women’s health issue; by the age of 50, 70% of women will develop uterine fibroids; up to 50% of uterine fibroids are symptomatic requiring treatment. Symptoms include abnormal uterine bleeding, pelvic pressure and pain, infertility, recurrent pregnancy loss, and a significant reduction in a woman’s quality of life. Ekobi is a patented “first-in-class” embolic therapeutic medical device that provides women with an alternative to traditional surgical treatments, such as hysterectomy (removal of the uterus) or myomectomy (removal of part of the uterus).

“Uterine fibroids can have a major impact on a woman’s physical and social activities,” said Michael Stewart, CEO of IMB. “We are pleased to offer physicians a biodegradable and non-surgical treatment option for symptomatic uterine fibroids.”

Clinical studies have established safety and efficacy of Ekobi™ microspheres and with this approval, Ekobi™ microspheres are now indicated for the treatment of hypervascularized tumors, uterine fibroids, and enlarged prostates caused by benign prostatic hyperplasia (“BPH”). Using a minimally invasive technique called embolotherapy, Ekobi™ microspheres selectively block the blood vessels that feed a target tissue, starving it of oxygen and nutrients. An important advantage of Ekobi is that after providing a therapeutic benefit, Ekobi™ microspheres biodegrade and are completely eliminated from the body. In addition, Ekobi can be easily seen in the body using minimally invasive ultrasound. Ekobi is the first, and only, biodegradable embolic agent detectable by ultrasound.

Ekobi^TM Embolization Microspheres has also received US FDA clearance for the treatment of unresectable/inoperable hypervascularized tumors.

About Ekobiä Embolization Microspheres

Ekobi is a first-in-class biodegradable embolic agent that is detectable by ultrasound. It is a class II medical device cleared in the USA for the treatment of unresectable/inoperable hypervascularized tumors. In Canada, it is a class IV medical device approved for the treatment of hypervascularized tumors, uterine fibroids and enlarged prostates due to BPH.

About Embolotherapy

Embolotherapy works by reducing or eliminating the blood supply to target tissues. The procedure is performed by injecting embolic agents through a catheter into the blood vessels that feed a target tissue. By selectively blocking the tissue’s blood supply, the target tissue is either destroyed or devitalized, resulting in therapeutic benefit.

About IMBiotechnologies Ltd.

IMBiotechnologies Ltd. is a privately held Canadian medical device company located in Edmonton, Alberta, focused on the commercialization of medical products in the area of embolotherapy.

20 March 2019

IMBiotechnologies Ltd Announces Presentation at 2019 Society of Interventional Radiology Annual Meeting (Austin, Texas)

Edmonton, Alberta, Canada – IMBiotechnologies Ltd today announced that an oral presentation regarding the use of its lead product, Ekobi^TM Embolization Microspheres (OCL 503), for treatment of benign prostatic hypertrophy (BPH). Dr. Richard Owen, lead investigator of the clinical study conducted at the University of Alberta Hospital, will be presenting the results of an open label pilot study. The presentation entitled “Prostate Artery Embolization using OCL 503 (a biodegradable microsphere), an open label pilot study” will be given by Dr. Owen on Sunday, March 23^rd, 2019.

About Ekobi^TM

Ekobi is a first-in-class biodegradable embolic agent that is detectable by ultrasound. It is a class II medical device cleared in the USA for the treatment of unresectable/inoperable hypervascularized tumors. In Canada, it is cleared as a class IV medical device for the treatment of hypervascularized tumors and benign prostatic hypertrophy/hyperplasia.

About IMBiotechnologies Ltd.

IMBiotechnologies Ltd. is a privately held Canadian medical device company located in Edmonton, Alberta, focused on the commercialization of medical products in the area embolotherapy.

21 November 2018

IMBiotechnologies Ltd. receives Health Canada Approval for a New Biodegradable Embolic Agent

Edmonton, Canada – 21 November 2018 – The Ekobi^TM product is a patented “first-in-class” embolic therapeutic medical device that provides an alternative to surgery. Ekobi^TM is the first and only biodegradable embolic agent detectable by ultrasound.

Ekobi^TM microspheres selectively block the blood vessels that feed a target tissue, starving it of oxygen and nutrients. The advantage of Ekobiä is that after providing a therapeutic benefit, Ekobi^TM microspheres biodegrade and are completely eliminated from the body. Additionally, Ekobiä can be easily seen in the body using minimally invasive ultrasound.

Ekobi^TM has already received US FDA clearance for the treatment of unresectable/inoperable hypervascularized tumors. The Health Canada approval further expands IMB’s portfolio of approved indications for its lead product.

“We are pleased that Health Canada has issued a medical device license for our product. Ekobi^TM provides physicians with a new option to treat patients with hypervascularized tumors, and men with enlarged prostates caused by benign prostatic hyperplasia,” stated Michael Stewart, CEO of IMB. “This approval underscores IMB’s commitment developing and manufacturing safe and effective products, while providing economic value to healthcare consumers and providers.”

The development and commercialization of Ekobi^TM microspheres was made possible, in part, by IMB accessing the Alberta innovation network. A clinical study in patients with BPH was conducted at the University of Alberta and was supported, in part, by funding from Alberta Innovates. The clinical study which evaluated the safety and effectiveness of Ekobi^TM was integral in achieving Health Canada approval.

“Innovations like this take considerable time and investment,” says Rollie Dykstra, Vice President, Investments at Alberta Innovates. “We know that with the right support at the right time companies like IMBiotechnologies Ltd. succeed. We congratulate them on achieving this tremendous milestone. It’s not only good for Albertans but also for people around the world.”

About Ekobiä

Ekobi is a first-in-class biodegradable embolic agent that is detectable by ultrasound. It is a class II medical device cleared in the USA for the treatment of unresectable/inoperable hypervascularized tumors. In Canada, it is cleared as a class IV medical device for the treatment of hypervascularized tumors and benign prostatic hypertrophy/hyperplasia.

About IMBiotechnologies Ltd.

IMBiotechnologies Ltd. is a privately held Canadian medical device company located in Edmonton, Alberta, focused on the commercialization of medical products in the area embolotherapy.

About Alberta Innovates

Alberta Innovates invests in research, innovation and entrepreneurship to drive provincial economic growth and diversity. We ignite the power of innovation through our work with researchers, industry and entrepreneurs to move Alberta to a lower-carbon future, enhance the responsible use of land and water, and contribute to the improved health and well-being of Albertans.

Alberta Innovates provides technical expertise, entrepreneurial advice and support, opportunities for partnerships, and funding to advance the best ideas. We support a broad range of research and innovation activity – from discovery to use. Collaboration is at the heart of what we do – bringing together bright minds and great ideas to drive innovation. Find out more at albertainnovates.ca

About Embolotherapy

Embolotherapy works by reducing or eliminating the blood supply to target tissues. The procedure is performed by injecting embolic agents through a catheter into the blood vessels that feed the target tissue. By selectively blocking the tissue’s blood supply, the target tissue is either destroyed or devitalized, resulting in therapeutic benefit.

15 November 2018

IMBiotechnologies announces rebranding of Embolotherapy Product from Occlusin® to Ekobi^TM

EDMONTON, ALBERTA, CANADA - IMBiotechnologies Ltd (“IMB”), an Edmonton-based medical device company, today announced the rebranding of the company’s flag-ship product Occlusin® Embolization Microspheres to Ekobi^TM Embolization Microspheres.

Mike Stewart, Chief Executive Officer at IMB, said “This rebranding reflects the unique characteristics of IMB’s lead product. Not only are Ekobi^TM microspheres biodegradable, they are also detectable using ultrasound. The name Ekobi^TM reflects these key properties.”

Ekobi^TM microspheres block the blood vessel(s) that feed a target tissue, starving it of oxygen and nutrients resulting in a therapeutic benefit. Ekobi^TM microspheres have received medical device clearance in the USA for the treatment of unresectable/inoperable hypervascularized tumors.

About IMBiotechnologies Ltd.

IMBiotechnologies Ltd. is a privately held Canadian medical device company located in Edmonton, Alberta, focused on the commercialization of medical products in the area embolotherapy.

About Embolotherapy

Embolotherapy works by reducing or eliminating the blood supply to target tissues. The procedure is performed by injecting embolic agents through a catheter into the blood vessels that feed the target tissue. By selectively blocking the tissue’s blood supply, the target tissue is either destroyed or devitalized, resulting in therapeutic benefit.

Global News Health Matters Coverage of Heath Canada Approval Announcement:

https://globalnews.ca/video/rd/1377560643736/?jwsource=cl

19 September 2018

IMBiotechnologies Ltd Announces Presentation at the 2018 Cardiovascular and Interventional Radiological Society of Europe Annual Meeting (Lisbon, Portugal)

EDMONTON, ALBERTA, CANADA - IMBiotechnologies Ltd today announced that an oral presentation regarding the use of its lead product, Occlusin® 500 Embolization Microspheres (Occlusin 500), in benign prostatic hypertrophy (BPH) patients will be presented at the 2018 Cardiovascular and Interventional Radiological Society of Europe (CIRSE) annual meeting. Dr. Richard Owen, lead investigator of the clinical study conducted at the University of Alberta Hospital, will be presenting qualitative data assessing prostate tissue and Occlusin 500 using ultrasound in patients after prostatic artery embolization. The presentation entitled “Ultrasound detection of a biodegradable embolic microsphere after prostatic artery embolization” and will be given by Dr. Owen on Saturday, September 22^nd.

About Occlusin 500

Occlusin 500 is a first-in-class biodegradable embolic agent that is detectable by ultrasound. It is a class II medical device cleared in the USA for the treatment of unresectable/inoperable hypervascularized tumors. IMBiotechnologies is currently seeking Health Canada approval for Occlusin 500.

About IMBiotechnologies Ltd.

IMBiotechnologies is a privately held Canadian medical device company located in Edmonton, Alberta focused on the commercialization of medical products in the area embolotherapy.

About Embolotherapy

Embolotherapy works by reducing or eliminating the blood supply to target tissues. The procedure is performed by injecting embolic agents through a catheter into the blood vessels that feed the target tissue. By selectively blocking the tissue’s blood supply, the target tissue is either destroyed or devitalized, resulting in therapeutic benefit.

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