Administrators for Bod Science have recommended a proposed deed of company arrangement (DOCA) under which Biortica Agrimed would acquire the firm and achieve a backdoor listing on the Australian Securities Exchange (ASX), as exclusively revealed by Cannabiz last week.
Under the terms of the DOCA, Biortica has agreed to contribute A$380,000 to a deed fund and a proposal by which, ultimately, Bod will acquire the issued share capital in Biortica in consideration for the issue of shares in Bod to Biortica shareholders and noteholders, although not as part of the DOCA process.
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