Jason C. Monaco, President & CEO of The Leadership Fund Inc. (the 'Corporation') and Sergio Martines, President and CEO of Naturale Science Pharma Inc. are pleased to announce that the Corporation has entered into an agreement for the reverse-take-over of Naturale Science Pharma Inc. ('NSPI').
Pursuant to the terms of the agreement, and subject to completion of satisfactory due diligence, receipt of all applicable regulatory approval, valuation, and shareholder approval, all of the issued and outstanding shares of NSPI will be exchanged for common shares in the capital of the Corporation. If, as, and when completed as contemplated, this transaction will result in a change of control of the Corporation, and the management of NSPI will comprise the majority of the Board of Directors, and the day-to-day management of the Corporation.
NSPI owns and markets a number of lines of nutraceutical and cosmeceutical products throughout North America under several brand names including the Modèle(R) brand. NSPI enjoys a wide distribution in major pharmacy chains throughout Canada and the United States, such as CVS/pharmacy, Jean Coutu, London Drugs, PharmaPlus, Pharmasave, Shoppers Drug Mart, Uniprix, and other chains.
The Corporation intends to make this transaction its Qualifying Transaction under Policy 2.4 of the TSX Venture Exchange (the 'Exchange'). Completion of the transaction is subject to a number of conditions, including but not limited to the approval of both the Exchange and the majority of the minority shareholders of the Corporation. The transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular of the Corporation to be prepared in accordance with the transaction, any information released or received with respect to the proposed qualifying transaction may not be accurate or complete and should not be relied upon.
Trading in the Corporation's common shares on the Exchange has been halted pending completion of the final delivery of documents pursuant to this transaction. A further news release will be issued upon the resolution of outstanding matters relating to the agreement. The shares of the Corporation will remain halted until the Corporation requires with all of the filing requirements of the Exchange.
The TSX Venture Exchange Inc. accepts no liability as to the relevance or accuracy of the present press release.