Imagine Media Ltd. (IMLE.OB) Inks LOI to Acquire Biotech Firm DMI Life Sciences
Imagine Media Ltd. today announced it has signed a non-binding Letter of Intent to acquire DMI Life Sciences Inc., a biotechnology firm engaged in developing pharmaceutical products and medical devices. If the acquisition does take place, DMI shareholders will acquire roughly 91 percent of total issued and outstanding shares of Imagine Media. For DMI, becoming a publicly traded company will accelerate its trek of obtaining executing future plans. “Gaining access to the public markets will enable us to achieve our goals much sooner, and give our shareholders the value and liquidity they deserve. With a large and diverse portfolio, DMI…