Board Change • Jul 18Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Collin Kim was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Announcement • Jun 23Glorious Success Limited signed a letter of intent to acquire Biocure Technology Inc. (CNSX:CURE.X) in a reverse merger transaction.Glorious Success Limited signed a letter of intent to acquire Biocure Technology Inc. (CNSX:CURE.X) in a reverse merger transaction on June 22, 2026. Upon the successful completion of the proposed Transaction, it is anticipated that Biocure Technology Inc. will carry on the business of GSL. Pursuant to the Transaction, CURE will consolidate its existing share capital on the basis of a ratio determined by the price of GSL securities in the Private Placement divided by a deemed value of CAD 0.134 (the “Consolidation”), currently expected to result in a consolidation ratio equal to approximately 16.42 old shares for one new common share (the “Resulting Issuer Shares”). As consideration for the outstanding shares of GSL, including GSL Shares issuable in the Private Placement and GSL Debt Settlement, CURE will issue Resulting Issuer Shares on the basis of exchange ratio. Based on the expected terms of the Private Placement and GSL Debt Settlement, it is expected that an aggregate of 11,363,636 Resulting Issuer Shares will be issued to existing holders and GSL Shares prior to completion of the Private Placement and GSL Debt Settlement. Following completion of the Consolidation, Transaction, Private Placement and debt settlements, the Resulting Issuer is expected to have 15,980,788 Resulting Issuer Shares outstanding of which existing shareholders of CURE will represent 8.1% of the outstanding Resulting Issuer Shares. Pursuant to the letter agreement, it is a condition of the Transaction that GSL complete a private placement for aggregate gross proceeds of at least CAD 3.09 million. The Resulting Issuer intends to use the proceeds of the private placement to fund the Transaction. Upon completion of the Transaction, CURE intends to change its name to a new name to be determined by the parties and the parties expect that the CSE will assign a new trading symbol for the Resulting Issuer. Upon completion of the Transaction, the board of the Resulting Issuer shall be reconstituted to consist of a number of directors, the majority of which will be nominated by GSL, provided that Collin Kim will remain on the board of directors of the Resulting Issuer and Konstantin Lichtenwald will continue to serve as Chief Financial Officer. GSL is entitled to select a Chief Executive Officer for the Resulting Issuer. The Transaction is subject to a number of terms and conditions, including, but not limited to, the completion of satisfactory due diligence, the parties entering into the Definitive Agreement with respect to the Transaction on or before September 15, 2026, the completion of the Consolidation, the completion of the Private Placement, the completion of debt settlements by both GSL and CURE, the approval of the shareholders of CURE and GSL (if required), and the approval of the CSE and other applicable regulatory authorities. Approval for the Transaction, including the Consolidation, will be sought from the CURE’s shareholders at a meeting to be held on a date to be determined.
Board Change • Jun 17Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Collin Kim was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
