Dimethaid Research completes second installment payment of OXO Chemie AG purchase.

Publication: PR Newswire

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COPYRIGHT 2002 PR Newswire Association LLC

Dimethaid Research Inc. (TSX: DMX) announced today that, pursuant to its May 15th purchase agreement with Swiss-based OXO Chemie AG, the company has elected to pay the November 30th installment of $4.5 million US using a combination of cash and shares. The payment to OXO founder, Dr. Friedrich-Wilhelm Kuhne, will consist of $500,000 US ($783,000 Cdn) cash and $4 million US ($6.3 million Cdn) in common stock totaling 3,239,092 shares. Under the agreement, these shares will be held in escrow for a minimum of one year.

OXO Chemie AG develops and commercializes proprietary products for treating disease caused by dysfunction of the immune system. Its...

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