Edmonton, Alberta, October 21st, 2024 – Innovotech Inc. (TSX-V: IOT) (“Innovotech” or the “Company”) is pleased to announce the execution of a definitive purchase agreement with Keystone Labs Inc. (“Keystone”), marking an important milestone in the Company’s plan to acquire Keystone as previously announced in the news release dated September 11th, 2024. The closing date is expected to be in the latter part of November 2024, subject to the acceptance of the TSX Venture Exchange (TSXV). Keystone, a privately held contract-testing laboratory founded in 2005 and based in Edmonton, is a leader in high-quality analytical and microbiological testing services for the global pharmaceutical, industrial, and biotechnology sectors.
“We are extremely excited about combining Innovotech’s excellence in contract-testing services and antimicrobial technologies with Keystone’s market potential,” said Dr. Craig Milne, CEO of Innovotech. “This acquisition will enable both companies to build on their strengths and deliver enhanced value to our customers.”
Ms. Jodi McDonald, President of Keystone Labs, added, “Keystone has always been driven by quality and customer service, and this partnership with Innovotech represents a fantastic opportunity for us to expand our capabilities. Combining our expertise will drive a wider platform for growth.”
