International Gold Corp. Executes Letter of Intent With SignalChem Lifesciences Corporation
July 18 2012 - 10:51AM
Marketwired
International Gold Corp. ("IGC") (OTCQB:ITGC) announced today that
it has signed a Letter of Intent ("LOI") with SignalChem
Lifesciences Corporation ("SLC") whereby SLC will merge with and
into a subsidiary of IGC in exchange for IGC issuing 40,000,000 of
its restricted common shares to the shareholders of SLC. The
completion of the proposed LOI is subject to a number of conditions
including, negotiation and execution of a definitive agreement,
receipt of all required regulatory approvals, and completion of due
diligence investigations by both companies. Both companies will use
their best efforts to come to a definitive agreement for this
transaction by September 18, 2012.
About SignalChem Lifesciences Corporation
SLC, a private company incorporated in British Columbia,
discovers and develops innovative novel small molecule targeted
therapies for the treatment of cancer, inflammation, autoimmune,
pulmonary and central nervous system diseases with unmet medical
need. SLC currently has created a robust pipeline of novel drug
candidates for the treatment of cancer, Alzheimer's disease, and
pulmonary arterial hypertension by applying its proprietary drug
discovery technology platform. SLC plans to begin human clinical
trials with its novel drug candidates in these three diseases in
2013. In addition, SLC has developed a robust kinase technology
platform that SLC believes it has optimized to generate additional
new drug candidates against clinically relevant and biologically
validated next generation kinase targets. These new kinase drug
candidates should significantly bolster the current drug candidate
pipeline.
DISCLAIMER Forward-Looking Statements: Except for statements of
historical fact, this press release contains certain
"forward-looking statements" as defined by the Private Securities
Litigation Reform Act of 1995, including, without limitation
expectations, beliefs, plans and objectives regarding the
development, use and marketability of products. Such
forward-looking statements are based on present circumstances and
on IGC's predictions with respect to events that have not occurred,
that may not occur, or that may occur with different consequences
and timing than those now assumed or anticipated. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors, and are not guarantees of future
performance or results and involve risks and uncertainties that
could cause actual events or results to differ materially from the
events or results expressed or implied by such forward-looking
statements. Such factors include general economic and business
conditions, the ability to successfully develop and market
products, consumer and business consumption habits, the ability to
fund operations and other factors over which IGC has little or no
control. Such forward-looking statements are made only as of the
date of this release, and IGC assumes no obligation to update
forward-looking statements to reflect subsequent events or
circumstances. Readers should not place undue reliance on these
forward-looking statements.
Contacts: International Gold Corp. Robert M Baker President
778-996-4483bobbaker@internationalgoldcorp.net
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