SQI Diagnostics completes acquisition of Precision Biomonitoring's human diagnostic testing business

On February 14, 2022, SQI Diagnostics Inc. ("SQI") (TSXV: SQD) (OTCQB: SQIDF) announced that it had completed its previously announced asset acquisition of Precision Biomonitoring Inc.'s ("PBI") human diagnostic COVID-19 PCR testing business and its TripleLock™ molecular diagnostic testing technology.

Pursuant to the terms of the definitive agreement, SQI acquired the assets through its wholly owned subsidiary, SQI Diagnostic Systems Inc., for aggregate consideration of $6,825,000 consisting of cash and common shares in the capital of SQI.

Gowling WLG advised PBI with respect to this transaction with a team led by Thomas Hunter and that included Irena Kramer and Michelle Kumar.