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Gravis obtains conditional CSE OK for BiocurePharm deal

2017-08-30 14:02 ET - News Release

Ms. Julie Hajduk reports

GRAVIS RECEIVES CONDITIONAL APPROVAL FOR FUNDAMENTAL CHANGE

Gravis Energy Corp. has received conditional acceptance from the Canadian Securities Exchange for its proposed acquisition by the company of all of the issued and outstanding securities of BiocurePharm Corp., which is a fundamental change within the meaning of the applicable policies of the CSE. For additional details concerning the transaction, please refer to the company's news release dated March 22, 2017. The conditions for the company to receive the final approval of the CSE include obtaining shareholder approval and submitting all final remaining listing documentation and fees. The company intends to seek shareholder approval by way of written consent, which it expects to receive within the next 14 days.

As previously announced, prior to the closing, the company will consolidate its share capital on a 1:6.033479 basis, and will acquire all of the issued and outstanding securities of BiocurePharm in consideration of the issuance of common shares of the company on the basis of 24 postconsolidation common shares of the company being issued for each share of BiocurePharm held. Upon completion of the transaction, the company will change its name to Biocure Technology Inc., and its stock symbol will be changed to CURE. The company will announce the effective dates for theconsolidation and change of name once finalized.

The company anticipates that the closing of the transaction will occur late in September to allow sufficient time for the corporate law procedures by which the company will acquire BiocurePharm to be completed under Korean law. The company's shares will remain halted until the final approval of the CSE is received.

About Gravis Energy Corp.

Gravis Energy is a Canadian-based uranium exploration and development company which has a property in the Athabasca basin, Saskatchewan. Gravis has a 10-per-cent interest in a Korean consortium which includes Korea Hydro & Nuclear Power Co. Ltd., Korea Nuclear Fuel Co. Ltd. and Hanwha Corp.

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