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Biotech / Medical : Receptagen Ltd.
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To: Wizzer who wrote (100)6/3/1998 7:58:00 AM
From: Andre Koluksuz  Read Replies (1) of 203
 
Hi All,

I talked to J.Baba (ex RCG investor relations) yesterday. Here is what I've heard from him;

GRN is a private company owned by some Toronto scientists and docs. They are investing in RCG . It is a reverse takeover situation again , but this time it seems serious and althought it won't be known until we receive the shareholder info package, he thinks this deal will value the RCG higher than Scitech deal. It might be that they will own about 60 % of the company if the deal goes through. The other positive thing I heard is that Creditfinance is still puuting more money into the company as part of the deal. This sounds like a whole new refinancing situation.

Let's hope that it works this time. Pls keep one thing in mind. Joe Baba is no longer an employee of RCG, and he was not talking to me in an official capacity. He has not seen the formal agreement or heard formally from RCG about the details of the agreement.
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