Province Brands of Canada Announces Proposed Reverse Takeover of Colson Capital Corporation
Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.
CALGARY, Alberta, Sept. 24, 2018 (GLOBE NEWSWIRE) -- Colson Capital Corp. (“Colson” or the “Corporation”) (TSXV: COLS.P) and Honest Inc., dba Province Brands of Canada (“Province Brands”), are pleased to announce that they have entered into an amended and restated arrangement agreement dated September 17, 2018 (the “Arrangement Agreement”) in respect of their proposed business combination transaction (the “Proposed Transaction”) which was previously announced in the news release of the Corporation dated June 5, 2018. The Proposed Transaction is expected to constitute Colson’s Qualifying Transaction under Policy 2.4 – Capital Pool Companies (“Policy 2.4”) of the TSX Venture Exchange (the “Exchange” or “TSXV”), subject to the TSXV’s approval. It is expected that the Resulting Issuer (as defined below) will be listed as a Tier 1 Life Science Issuer. A copy of the Arrangement Agreement will be made available on Colson’s company profile at www.sedar.com.
General Information on Colson and Province Brands
Colson is incorporated under the laws of the Province of Alberta and has a head office in Calgary, Alberta. Colson is a “capital pool company” under the policies of the TSXV and it is intended that the Proposed Transaction will constitute the “Qualifying Transaction” of the Corporation, as such term is defined in Policy 2.4. The Corporation is a reporting issuer in the provinces of British Columbia, Alberta, Saskatchewan and Ontario.
Province Brands, a company incorporated under the laws of Canada, is an early stage, Toronto-based, disruptive premium adult beverage company founded by veteran entrepreneurs with extensive experience in the premium alcohol and legal medical and recreational cannabis industries. Province Brands’ patent-pending process has created the world’s first beer brewed using cannabis. Alcohol-free yet intoxicating, and with a dose-response curve similar to that of alcohol, Province Brands’ cannabis-powered beers and spirits will challenge the alcohol industry by offering a safer and healthier alternative that is also low in calories and sugar. Province Brands is also developing additional premium spirits and beverages in anticipation of legalization of the use of cannabis-based products in Canada, which is anticipated to occur in the early fall of 2019 (“Potential Legislative Changes”).
The Proposed Qualifying Transaction
Pursuant to the Arrangement Agreement: (i) all of the issued and outstanding common shares of Colson (the “Colson Shares”) will be consolidated on a 11.5-for-1 basis (the “Consolidation”); (ii) Province Brands and 10938963 Canada Ltd., a wholly owned subsidiary of Colson (“Colson Subco”) will amalgamate to form Amalco; (iii) the 7,166,085 outstanding preferred shares of Province Brands (“Province Brands Preferred Shares”) will convert into common shares of Province Brands (“Province Brands Common Shares”) on a 1 for 1 basis, in accordance with their terms; (iv) the $10,974,487 principal amount of Province Brands Series A convertible notes (“Series A1 Notes”) will convert into Province Brands Common Shares on the basis of 1 Province Brand Common Share for each $1.81 of outstanding principal amount of the Series A1 Notes and the interest thereon, in accordance with their terms; (v) the $560,741 principal amount of Province Brands Series A2 convertible notes (“Series A2 Notes” and together with the Series A1 Notes, the “Province Brands Notes”) will convert into Province Brands Common Shares on the basis of 1 Province Brand Common Share for each $1.84 of outstanding principal amount of the Series A1 Notes and the interest thereon, in accordance with their terms; and (vi) the Province Brands Common Shares will be exchanged for Colson Shares on a 1 for 1 basis, resulting in Amalco becoming a wholly owned subsidiary of Colson. Upon completion of the Proposed Transaction, the resulting issuer (the “Resulting Issuer”) will carry on the business previously carried on by Province Brands and change their name to “Honest Inc.” or such other name as the directors of the Resulting Issuer determine is appropriate (the “Name Change”).
The Proposed Transaction values the Colson Shares at a deemed post-Consolidation price of $2.30 per share. It is anticipated that an aggregate of 40,501,753 Colson Shares will be issued to Province Brands shareholders (assuming completion of the maximum amount of the Private Placement (as defined below)) in exchange for their Province Brands Common Shares for total deemed consideration of $93,154,031.
Completion of the Proposed Transaction is subject to a number of conditions including, but not limited to, satisfaction or waiver of all conditions set forth in the Arrangement Agreement, receipt of all applicable regulatory, court and shareholder approvals and completion of the Private Placement on terms satisfactory to Colon and Province Brands. Shareholders of Colson approved the Consolidation and Name Change at Colson’s most recent shareholder meeting which was held on June 28, 2018. Province Brands will hold a shareholder meeting on October 11, 2018 to, among other things, approve the Proposed Transaction.
Assuming completion of the maximum amount of the Private Placement, it is estimated that there will be approximately 41,232,188 common shares of the Resulting Issuer issued and outstanding immediately following closing of the Proposed Transaction, with former Colson shareholders holding approximately 1.77% of such common shares and former Province Brands securityholders, including those persons who acquired Subscription Receipts pursuant to the Private Placement (as such terms are defined below) holding approximately 98.23% of such common shares. It is anticipated that upon completion of the Proposed Transaction, no person other than Michael Wendschuch, the proposed Chief Executive Officer of the Resulting Issuer, will own or control or direct, directly or indirectly 10% or more of the issued and outstanding shares of the Resulting Issuer.
Province Brands Private Placement
In connection with the Proposed Transaction, Province Brands is planning to complete a financing to raise gross proceeds of up to a maximum of $30,000,000, through a brokered private placement of Province Brands subscription receipts (“Province Brands Subscription Receipts”) at a price of $2.30 per Province Brands Subscription Receipt with the option to issue up to an additional $4,500,000 of Province Brands Subscription Receipts at a price of $2.30 per Province Brands Subscription Receipt (the “Private Placement”). Province Brands has engaged Paradigm Capital Inc. to act as lead agent, on behalf of a syndicate of agents, (collectively, the “Agents”) in connection with the Private Placement. The Agents will receive a cash commission equal to 6% of the gross proceeds from the Private Placement and such number of Agent’s compensation options (“Agents Compensation Options”) equal to 6% of the number of Province Brands Subscription Receipts issued under the Private Placement. Each Agents Compensation Option shall entitle the holder thereof to acquire one Province Brands Common Share at an exercise price of $2.30 for a period of two years following the date of listing of the Province Brands Common Shares (or such securities into which they are exchanged pursuant to the Arrangement) on the Exchange. Each Province Brands Subscription Receipt issued under the Private Placement will entitle the holder thereof, following the satisfaction of certain escrow release conditions, including but not limited to the completion, irrevocable waiver or satisfaction of all conditions precedent to the Proposed Transaction, to receive one Province Brands Common Share and one half of one Province Brands Common Share purchase warrant (a “Province Brands Warrant”). Each whole Province Brands Warrant will entitle the holder thereof to acquire one Province Brands Common Share at an exercise price $2.85 for a period of two years from the date of issuance of its corresponding Province Brand Subscription Receipt. Pursuant to the Arrangement Agreement the Province Brands Warrants will be exchanged for warrants of the Resulting Issuer which will entitle the holders thereof to acquire one common share of the Resulting Issuer on the same terms as the Province Brands Warrants and the Agent’s Compensation Options will be exchanged for compensation options of the Resulting Issuer which will entitle the holders thereof to acquire one common share of the Resulting Issuer on the same terms as the Agents Compensation Options.
Management Team, Board of Directors and Other Insiders
Concurrent with the completion of the Proposed Transaction, it is expected that all directors and officers of Colson will resign and be replaced by Province Brands nominees. The directors, officers and insiders of the Resulting Issuer are expected to be the following:
Michael “Dooma” Wendschuh – Proposed Chief Executive Officer.
Dooma Wendschuh is the Co-Founder and CEO of Province Brands, a Toronto-based startup in Canada’s legal cannabis industry. Prior to founding Province Brands, Mr. Wendschuh was the Co-Founder of a Colorado-based cannabinoid research and consumer products company. Before entering the cannabis industry, he was Co-Founder and Co-CEO of sekretagent Productions Inc., a film and video game production company and advertising agency best known for its video game work on the Assassin’s Creed franchise, Batman: Arkham Origins and the Prince of Persia franchise. Collectively, sekretagent Productions’ games have grossed more than $5 billion worldwide. Under Wendschuh’s leadership, sekretagent Productions also sold eight motion pictures and one television series to major studios, produced The Plague for Sony Screengems and produced award-winning work for the Coca-Cola Company, General Motors Company, Polaroid , Diamond Resorts International, Mentos Mints and Microsoft Corporation co-founder Paul among others.
Mr. Wendschuh graduated magna cum-laude from the Woodrow Wilson School of Public and International Affairs at Princeton University and received his Masters from the University of Southern California’s School of Cinema / Television Peter Stark Producing Program. In addition, Mr. Wendschuh has developed campaign strategy and produced content for Coca-Cola, General Motors, Diamond Resorts and others.
Ira Levy – Proposed Senior Vice President Finance, Chief Financial Officer.
Ira Levy is a senior financial professional with over a decade of business experience where he has been responsible for complex financial reporting, as well as for developing robust internal control systems. As Senior VP of Finance of Province Brands, Mr. Levy has been instrumental in preparing for public offering and assisting in the fundraising efforts. He has developed a reporting and control framework that has been implemented throughout Province Brands. Having spent time in senior roles within both privately and publicly held enterprises, including those within retail sector (Universal Music Group, Mark Anthony Group Inc. and IKO Industries Ltd.) and the P3/Infrastructure sector (Apleona, Bilfinger RE Asset Management Ltd.), Mr. Levy has amassed a vast array of experience within highly regulated and competitive industries.
Mr. Levy earned his Chartered Accountant (CPA, CA) designation from KPMG International Cooperative, and received his Bachelor of Business Administration (BBA, Finance and Marketing), and Masters of Business Administration (MBA, Accounting and Strategy) from the preeminent Schulich School of Business, York University.
Jennifer Dianne Thomas – Proposed Chief Legal Officer, Corporate Secretary and Director.
Jennifer Dianne Thomas is a corporate law specialist holding nearly a decade of wide ranging, significant transactional experience with private and public companies, delivering expertise in deal structuring, corporate governance, intellectual property matters and regulatory compliance. Ms. Diane Thomas’s broad subject matter and transactional knowledge results in skilled problem resolution and crisp execution in high-pressure situations. Her core competencies include delivering timely and cost-effective legal services to senior management; building effective legal teams; developing internal policies and procedures; implementing excellent organization-wide communication; and offering deep expertise in navigating the international and multi-state cannabis industry and related compliance matters. Ms. Dianne Thomas notably has significant experience advising emerging growth and start-up cannabis companies in commercial transactions, corporate governance and intellectual property matter and regulatory compliance. She has garnered significant depth of knowledge in cross-borders emerging market contracts and M&A transactions. Prior to joining Province Brands, Ms. Dianne Thomas held roles at Privateer Holdings, where she led the Marley Natural legal team. From 2008 through 2015, Ms. Dianne Thomas was an associate at Jones Day in which she served in the M&A and Banking and Finance Groups, where she advised a range of companies from start-ups through to IPO stage.
John Nemanic – Proposed Director.
John Nemanic is a serial entrepreneur and investor, leveraging extensive experience in starting, growing, managing and exiting firms. As a start-up entrepreneur, Mr. Nemanic co-founded three businesses doing more than $25,000,000 USD annually in sales. These include One venture, Geekforless.com, and Hostopia. Mr. Nemanic also sat on the Board of Directors for Transgaming Inc. (now FinDev Inc.) from the years 2006 to 2017.
Hugo Alves – Proposed Director
Hugo Alves is a leading advisor in the Canadian cannabis industry, having represented a variety of global industry participants, including licensed producers, licensed producer applicants, licensed dealers, e-commerce platforms, seed-to-sale software developers, design and build firms, patient aggregators, equipment manufacturers and distributors, and cannabis branding companies.
During his time as senior corporate and commercial Partner at Bennett Jones LLP, he founded and built the firm's Cannabis Group. He acted as lead counsel or played a key role in a wide variety of transactions since the inception of the cannabis industry in Canada and is widely regarded as a Canadian cannabis industry pioneer. Today, Mr. Alves is President and Director at Auxly Cannabis Group, a platform spanning the entire cannabis value-chain, minimizing risk while simultaneously maximizing exposure to multiple, geographically-diverse cannabis companies through a single source.
Mr. Alves obtained his B.A from Carleton University, where he won the Senate Medal for Outstanding Academic Achievement and his Juris Doctor from the University of Toronto.
Ronan Levy – Proposed Director.
Ronan Levy is an experienced entrepreneur, investor and lawyer with extensive experience in the cannabis industry. He is a co-founder of Grassfed Ventures Inc., a private equity and advisory firm focussed on the cannabis and biotechnology industries. Mr. Levy presently serves as Chief Strategy Officer for Trait Biosciences Inc., an emerging cannabis technology company. Prior to his work with Grassfed Ventures Inc. and Trait Biosciences Inc., Mr. Levy served as Senior Vice President, Business & Corporate Affairs at Aurora Cannabis Inc., which he joined after Aurora acquired CanvasRx Inc. in 2016, a company Mr. Levy co-founded in 2014 along with Canadian Cannabis Clinics, Canada’s largest network of cannabis-specialized medical clinics.
Mr. Levy obtained both his Bachelor of Commerce and Juris Doctor from the University of Toronto.
Kathia Cambron-Gagne – Proposed Director .
Kathia Cambron-Gagne is the Editor-in-Chief and President of Dress to Kill (DTK) Magazine and Media and has been an executive since 2008. DTK Media brands itself as much more than just a publishing company and aspires to embody a lifestyle of bold fashion choices and the collision of culture and luxury. Dress to Kill Magazine has achieved status as an iconic and mainstay publication in the Canadian fashion industry.
Kathia graduated from Lasalle College in 1999 with a focus in fashion design. In 2006, Kathia completed an attestation Finance in France.
Selected Consolidated Financial Information of Province Brands
The following selected consolidated financial information of Province Brands has been supplied to Colson by Province Brands for purposes of inclusion herein in accordance with TSXV requirements:
|6 months ended June 30, 2018 (unaudited) ($)||Year ended December 31, 2017 (audited) ($)||Year ended December 31, 2016 (audited) ($)|
|Total Assets ($)||3,603,344||2,902,679||82,162|
|Total Long-Term Liabilities ($)||2,361,635||-||-|
|Current Liabilities ($)||140,548||175,610||-|
|General and Administrative Expenses ($)||(2,035,233)||(1,341,038)||(133,842)|
|Net Loss, Total ($)||(2,035,233)||(1,341,038)||(133,842)|
|Net Loss per Share (basic and diluted) ($)||(0.10)||(0.11)||(0.08)|
Conditions to Completion of Proposed Transaction & Regulatory Matters
The parties to the Proposed Transaction are at arm’s length and therefore it is anticipated that the Proposed Transaction will not be a Non-Arm’s Length Qualifying Transaction for the purposes of Policy 2.4 as none of the directors, officers or insiders of Colson, or any of their respective associates or affiliates, own any securities of Province Brands. A request has been made to the TSXV for a waiver of the sponsorship requirement of TSXV Policy 2.2 – Sponsorship and Sponsorship Requirements, but there is no assurance that such waiver will be granted.
Trading of Colson Shares is presently halted and is expected to remain halted pending completion of the Proposed Transaction. Completion of the Proposed Transaction is subject to a number of conditions including, but not limited to, satisfaction of all conditions set forth in the Arrangement Agreement, receipt of all applicable regulatory, court and securityholder approvals and completion of the Private Placement on terms acceptable to Colson and Province Brands. The Proposed Transaction cannot close until all required approvals are obtained. There can be no assurance that the Proposed Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the filing statement to be prepared in connection with the Proposed Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the Proposed Transaction and has neither approved nor disapproved the contents of this news release.
|For further information please contact:|
|Colson Capital Corp:||Province Brands of Canada:|
|Murray Moore, CFO, Corporate Secretary and Director||Ira Levy, Senior VP, Finance|
|Telephone: (403) 471-4039||Telephone: (416) 318-2257
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would" , "might " or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the terms and conditions of the Proposed Transaction, the Private Placement, Name Change and the completion thereof; the Province Brands shareholder meeting; the business and operations of Province Brands and the Resulting Issuer; go-forward management of the Resulting Issuer; the trading of the Resulting Issuer Shares; and Potential Legislative Changes as the case may be. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder, court or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, Colson and Province Brands assume no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
Neither the TSX Venture Exchange, Inc. nor its Regulation Services Provider (as that term is defined in the polices of the TSX Venture Exchange) has in any way passed upon the merits of the Proposed Transaction and associated transactions and neither of the foregoing entities accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.
The Colson Shares have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Følg saker fra GlobeNewswire
Registrer deg med din epostadresse under for å få de nyeste sakene fra GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra GlobeNewswire
Family of Constant-Current Dimmable Buck LED Drivers18.12.2018 11:00 | Pressemelding
1.5A, 3A Buck LED Drivers Target ISO26262 automotive and industrial applications MILPITAS, Calif., Dec. 18, 2018 (GLOBE NEWSWIRE) -- AMS, the Analog Mixed-Signal division of ISSI, has introduced a family of switching buck LED Drivers for automotive and industrial applications. This family of highly integrated switching constant current buck LED Drivers are targeted for 12V/24V battery connected, space-constrained, electromagnetic (EMC) sensitive applications such as Headlight, Front and Rear Fog lights, Day time Running lights to name a few. The device family supports a wide DC voltage input range of 4.5V to 38V and outputs a 5% regulated current of 1.5A or 3A; depending on the particular device, see table. The integrated power MOSFET is configured to switch in the constant on-time mode delivering true average current. Switching at a frequency of up to 2MHz which is adjustable with an external resistor, these buck LED Drivers can use smaller output inductor and capacitor values thereby
John Charman Appointed Chief Executive Officer of Sompo Holdings Overseas Insurance Business and Nigel Frudd Appointed as Chief Executive Officer of Sompo International18.12.2018 10:13 | Pressemelding
Mr. Charman and Mr. Frudd to Join Sompo Holdings New Global Executive Committee PEMBROKE, Bermuda, Dec. 18, 2018 (GLOBE NEWSWIRE) -- Sompo International Holdings Ltd. (Sompo International), a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced today that effective April 1, 2019, Mr. John Charman, currently Chairman of the Board of Directors and Chief Executive Officer of Sompo International, will be promoted to Chief Executive Officer of Overseas Insurance Business in Sompo Holdings, Inc. (Sompo Holdings). This segment of Sompo Holdings’ business currently represents more than 27% of Sompo Holdings Group’s adjusted profit, employing around 9,000 people in 30 countries and regions and is projected to have more than $10 billion in gross premiums by 2020. In such capacity, Mr. Charman will join the new Global Executive Committee of Sompo Holdings (Global ExCo) which will be established in April 2019 to provide expertise and input on group-wide st
LeddarTech Selects BlackBerry’s QNX Operating System for its Auto and Mobility LiDAR Platform18.12.2018 06:05 | Pressemelding
The QNX OS for Safety runs the software at the core of LeddarTech’s innovative automotive LiDAR development platform that enables the design of differentiated LiDAR solutions tailored to specific autonomous driving applications. QUEBEC CITY, Dec. 18, 2018 (GLOBE NEWSWIRE) -- LeddarTech , an industry leader providing the most versatile, scalable Auto and Mobility LiDAR Platform, today announced it has selected the QNX OS for Safety as the operating system for its LeddarSP Digital Signal Processing library. The LeddarSP software works in tandem with LeddarCore systems-on-chip to form the LeddarEngine, which is embedded at the heart of a variety of LiDAR sensor designs that enable ADAS and autonomous driving applications. “We believe that there is no safety without security,” said Grant Courville, VP of QNX Product Management and Strategy at BlackBerry. “We are thrilled to provide LeddarTech, an industry leader in LiDAR technology, with the reliable foundation necessary for building compe
Align Technology Reaches 6 Millionth Invisalign® Patient Milestone With Tween Patient From China18.12.2018 02:30 | Pressemelding
12-year old Yuzhe Wang from Beijing, China is in treatment with Invisalign trained doctor Jiawei Wo using Invisalign Comprehensive with Mandibular Advancement Accelerating adoption of Invisalign clear aligner treatment globally reflects Align’s continued investment in product innovation and commitment to international expansion BEIJING and SAN JOSE, Calif., Dec. 17, 2018 (GLOBE NEWSWIRE) -- Align Technology, Inc. (NASDAQ: ALGN) today announced that over 6 million patients have begun treatment with Invisalign - the most advanced clear aligner system in the world, including 1.4 million teenage patients*. This is a significant milestone for the company and the over 150,000 Invisalign-trained doctors worldwide, reflecting accelerating adoption of Invisalign treatment by adults and teens alike. The 6 millionth Invisalign patient, Yuzhe Wang, is a 12-year-old student of the International School of Beijing, who began treatment in October 2018 using Invisalign Comprehensive with Mandibular Adv
Euronet USA’s Advanced Technology Solution Selected by Banco de Moçambique for Their National Payment Network18.12.2018 00:15 | Pressemelding
LEAWOOD, Kan., Dec. 17, 2018 (GLOBE NEWSWIRE) -- On Monday, December 10, 2018, Euronet USA, Inc. signed an agreement with Banco de Moçambique to provide a modernized national payment network solution to Mozambique. Under the agreement, Euronet will provide state-of-the-art software for the financial system in Mozambique. Euronet’s superior technology combined with over 40 years of experience in the payments landscape makes them well suited to deliver a robust solution to meet the country’s existing and future requirements. This arrangement recognizes Euronet’s leadership position in the region as this solution will be used to drive all payment processing in the country. “We are extremely honored to grow our strong relationship with the country of Mozambique, by providing advanced and scalable products and services that we deploy successfully around the world,” said Cindy Ashcraft, Vice President of Euronet Worldwide and Managing Director of Euronet Software Solutions, headquartered in
ProQR Announces Publication in Nature Medicine of QR-110 Data for Leber’s Congenital Amaurosis 1017.12.2018 17:52 | Pressemelding
LEIDEN, Netherlands and CAMBRIDGE, Mass., Dec. 17, 2018 (GLOBE NEWSWIRE) -- ProQR Therapeutics N.V. (Nasdaq:PRQR), a company dedicated to changing lives through the creation of transformative RNA medicines for the treatment of severe genetic rare diseases, today announced the publication of a peer-reviewed manuscript describing the previously announced interim results of a clinical trial of QR-110 for the treatment of Leber’s congenital amaurosis 10 (LCA10) in the journal Nature Medicine. “It was enormously gratifying to see robust improvements in visual acuity and significant augmentations in the patient’s ability to detect lights, and impressive to observe these effects within the first three months following a single injection,” said Professor Artur V. Cideciyan, Ph.D., who was one of the co-investigators at the Scheie Eye Institute of the University of Pennsylvania. “LCA10 is a severe form of childhood blindness and this is a major step forward in the treatment of these previously