SOURCE: Wall Street News Alert
|
February 11, 2010 09:38 ET
Wall Street News Alert: Breaking News: Caleco Pharma Corp. -- February 11, 2010
NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Wall Street Capital Funding.
WESTON, FL--(Marketwire - February 11, 2010) - Wall Street News Alerts' "stocks to watch" this
morning are: Caleco Pharma Corp. (OTCBB: CAEH), Baidu, Inc. (NASDAQ: BIDU),
Microsoft Corp (NASDAQ: MSFT) and Pfizer Inc. (NYSE: PFE).
Yesterday after the markets closed, Caleco Pharma Corp. (OTCBB: CAEH)
issued a press release announcing that it has entered into a share purchase
agreement (the "Share Purchase Agreement") with Natac Biotech S.L.
("Natac"), a Spanish biotechnology corporation engaged in the research and
development of health related products, and the principal stockholders of
Natac (the "Principal Stockholders"). Under the terms of the Share Purchase
Agreement, the Company has agreed to acquire eighteen percent (18%) of the
share capital of Natac from the Principal Stockholders (the "Natac
Shares"). In consideration of the Natac Shares, the Company has agreed to
issue an aggregate of 4,300,000 shares of its common stock to the Principal
Stockholders.
The closing of the Share Purchase Agreement is expected to occur on or
before March 19, 2010 and is subject to a number of customary conditions,
including:
(a) the closing of a research and licensing agreement whereby the Company
will acquire an exclusive license to certain probiotic strains for the
countries located in North and South America;
(b) the closing of an exclusive licensing agreement whereby the Company
will acquire an exclusive license to certain health related products for
the countries located in North and South America; and
(c) the closing of a lab facilities and services agreement whereby Natac
shall provide certain services and laboratory access to the Company.
Following closing of the Share Purchase Agreement, Natac has agreed to
appoint a nominee of the Company to the Board of Directors of Natac. In
addition, the Company has also agreed to appoint a nominee of Natac to its
Board of Directors.
Natac is a start-up Spanish biotechnology corporation engaged in the
research and development of health related products. Natac has recently
formed a strategic alliance with the Universidad Autónoma de Madrid in
order to enhance its research and development of health related products.
The strategic alliance will be carried out through a spin off into a
separate Spanish corporation called "Natac Research S.L." of which Natac
owns forty-seven percent (47%) of the share capital, the University owns
six percent (6%) of the share capital and various professors and lecturers
of the University own the balance of the issued share capital. Through
Natac Research S.L., Natac will have access to the over 1,200 square meters
of laboratory facilities and a pilot plant with advanced scientific
equipment in order to conduct its research and development of various
health related products.
The stock closed yesterday at Twenty Four cents a share.
For an in-depth profile of Caleco Pharma, visit
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Baidu, Inc. (NASDAQ: BIDU) up 10.8% on 5.6 million shares traded.
Baidu, Inc. is the leading Chinese language Internet search provider.
Microsoft Corp (NASDAQ: MSFT) down 0.07% on 47.9 million shares traded.
Microsoft is the worldwide leader in software, services and solutions that
help people and businesses realize their full potential.
Pfizer Inc. (NYSE: PFE) down 0.7% on 59.9 million shares traded.
At Pfizer, we apply science and our global resources to improve health and
well-being at every stage of life.
Market Commentary:
Crude oil rose 84 cents to $74.59 per barrel on the New York Mercantile
Exchange.
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