Verisante Technology Updates RTO with SunRegen Healthcare

Verisante Technology, Inc. has announced an update regarding its proposed Reverse Takeover (RTO) with SunRegen Healthcare AG. This transaction seeks to have Verisante acquire a 100% interest in the Swiss pharmaceutical company. The resulting entity aims to qualify as a Tier 2 Life Sciences Issuer, according to TSX Venture Exchange policy.

SunRegen has proposed a private placement of CHF 1,333,333.40 with an accredited investor, aimed at financing regulatory processes for its drug candidate, SBC003. If the RTO doesn't conclude by May 2025, SunRegen will compensate the investor with shares.

The transaction will move forward via a Triangular Merger, making SunRegen a wholly-owned Verisante subsidiary. Both companies require shareholder approval, and Verisante plans to rebrand as SunRegen Pharmaceuticals Inc. A special shareholder meeting is set to address these changes.