VANCOUVER, BC, March 21, 2022 – PanGenomic Health Inc.(the “Company” or “PanGenomic Health”) is pleased to announce that it has acquired certain intellectual property assets (the “LivNao IP”) from LivNao Technologies Corp (“LivNao”). The patent-pending LivNao IP includes technology which combines smartphone sensor data and machine-learning tools to provide just-in-time behavioural nudges to help improve an individual’s mental health. The Company acquired the LivNao IP for 500,000 Class A Common Shares of the Company (“Common Shares”), with up to an additional 1,500,000 Common Shares to be issued to LivNao upon the achievement of certain active user milestones for the Company’s Nara mental health app (the “Nara App”). In addition, LivNao agreed to provide transition support services, in respect of the LivNao IP, to the Company for a cash payment of $1,000.
PanGenomic Health Inc. is a precision health company that is developing a self-care digital platform to deliver personalized, evidence-based information about natural treatments to support mental health. Registered as a benefit company under the laws of British Columbia, the Company’s benefit statement is to improve the health and wellness of people by providing a technology platform that identifies plant-based solutions tailored to the health profile of each individual.
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to statements regarding the Company’s business, products and future of the Company’s business. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking information. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements depending on, among other things, the risk that the anticipated benefits of the transaction will be realized as contemplated, or at all, risks that the Company’s products and plan will vary from those stated in this news release and the Company may not be able to carry out its business plans as expected. Except as required by law, the Company expressly disclaims any obligation and does not intend to update any forward-looking statements or forward-looking information in this news release. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. The statements in this news release are made as of the date of this release.