QuickCool AB (publ): Clarification regarding the investigation of the proposal that would secure the long-term financing
The Board of QuickCool has been presented with a proposal to finance QuickCool’s running operations up to the granting of the required CE mark and certification of the QuickCool® SYSTEM
The financing proposal comprises a potential “reverse merger” with a third party company with different activities in the nutritional supplements, biotech and pharma industries, of different nature from QuickCool’s business, through an acquisition of such company by QuickCool with the payment of the purchase price being made through the issuance of new QuickCool shares. Through this transaction a group would be established that could contribute to the long-term financing of QuickCool’s development project.
The assessment is that the Board of Directors would present a final solution before the end of September. Once definitive terms have been agreed between the parties, the Board of Directors will make an announcement regarding the potential transaction (which currently is subject to a confidentiality agreement as per market practice).
For additional information, please contact:
Fredrik Radencrantz, CEO
Phone: 046-286 38 40
This information is such that QuickCool AB is required to make public in accordance with the EU’s market abuse regulation (MAR). The information was made publicly available by the Company’s contact person on 29 August 2019.
Quickcool is a Swedish medical technology company, whose business concept is to save lives and prevent brain damage in acute ischemia (Inadequate blood supply to the brain) by developing and providing a unique and globally patented cooling system, the Quickcool SYSTEM. Quickcool is active in the fast-growing market, Targeted Temperature Management (TTM), for brain-protective cooling treatment of patients with e.g. acute cardiac arrest and stroke. QuickCool’s solution protects the brain by cooling in the nasal cavity and thus takes advantage of the innate heat exchanger in the nose. QuickCool’s Intranasal method offers gentle and uninterrupted cooling treatment for sedated patients. Quickcool is listed on Spotlight Stock Market and conducts its business at Ideon Science Park in Lund. For more Information, please refer to www.quickcool.se