(TheNewswire)
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Edmonton, Alberta – TheNewswire - July 8, 2025 – Innovotech Inc. (TSX-V: IOT) (“Innovotech”) has received US$402,926 (approximately CA$550,562) following the sale of its 120,000 shares in a privately-held Canadian company effective July 1, 2025 with proceeds received July 7 at close of business. The shares were acquired in February 2021 as the consequence of a CA$150,000 convertible debenture that Innovotech investor Lonsdale Capital Corporation ("Lonsdale") assigned to Innovotech in exchange for 625,000 common shares in Innovotech at a deemed price of $0.24 each. A further US$33,339 is held back for working capital adjustments and indemnity and a portion of this may be realized over the subsequent 18 months.
“The proceeds provide capital to continue executing on our plans, investing in profitable revenue growth and developing high value technologies. We congratulate the teams involved in the transaction for their milestone achievement and our supporters at Lonsdale for their visionary work in building healthy businesses like ours.” said Craig Milne, Innovotech CEO.
About Innovotech:
Innovotech Inc. is a diversified Canadian technology company with business operations in a growing portfolio of specialized laboratory services, biotechnology businesses, and proprietary intellectual property. Innovotech Inc. manages several subsidiary companies. Innovotech Labs Corporation is a contract research organization that owns and provides proprietary devices for antimicrobial testing in multiple applications and commercializes antimicrobial silver solutions. Learn more at www.innovotech.ca. Keystone Labs Inc. is a DEL-accredited lab serving the Canadian pharmaceutical industry and industrial markets. Learn more at www.keystonelabs.ca. Innovotech Inc. owns a 60% stake in NouLifeSciences Inc., a company holding intellectual property related to antioxidant molecules with potential applications in cosmetics and various medical conditions including neuropathies.
Craig Milne, CEO Innovotech Inc.
+1-604-239-1819 craig.milne@innovotech.ca
This document may contain forward-looking statements that are predictive in nature and subject to risks and uncertainties that cannot be predicted or quantified; consequently, actual results may differ materially from past results and those expressed or implied by any forward-looking statements. Factors that could cause or contribute to such risks or uncertainties include, but are not limited to: the regulatory environment including the difficulty of predicting regulatory outcomes; changes in the value of the Canadian dollar; the Company’s reliance on a small number of customers including government organizations; fluctuations in operating results; government policies or actions; progress and cost of clinical trials; reliance on key strategic relationships; uncertainty related to intellectual property protection and potential costs associated with its defense; the Company’s exposure to lawsuits and other matters beyond the control of management. Should known or unknown risks or uncertainties materialize, or should management’s assumptions prove inaccurate, actual results could vary materially from those anticipated. The Company undertakes no obligation to publicly make or update any forward- looking statements, except as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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