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Distribution of ZRx Prescriber and KDA Group
MONTREAL, Aug. 28, 2018 (GLOBE NEWSWIRE) -- ZoomMed Inc. (the “Corporation” or “ZoomMed”) (TSX Venture Exchange: ZMD). It is with surprise that the management of ZoomMed has learned that the Board of Directors of KDA Group has refused to issue 10 million Class A Common shares of its share capital to ZoomMed as was promised under the non-exclusive License that was signed on May 31, 2018. Despite obtaining the conditional approval of the TSX Venture Exchange, the KDA Group and its Board decided to withdraw from the project and terminate the License. ZoomMed takes note of this decision and is examining all means at its disposal to ensure that the contractual obligations arising from the License are respected.
ZoomMed is continuing its activities for the distribution of its ZRx Prescriber in the United States and intends on maintaining its marketing program.
ZoomMed builds and operates ZoomMed’s Communication Network, a clinical interoperable information exchange network between physicians and the various other stakeholders of the healthcare sector, such as pharmacists, specialists, pharmaceutical corporations and private insurers.
The cornerstone of this network is the ZRx Prescriber, an innovative Web technology application that greatly simplifies prescription writing for physicians. Since it is a stand-alone product, it can easily be integrated into any Electronic Medical Record (EMR) application.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Statements made in this news release that are not historical facts are “forward-looking statements” and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these “forward-looking” statement.