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Corum Group: Completes PharmX acquisition

September 7, 2020

Software company Corum Group (COO) has now officially completed the acquisition of PharmX and the PharmX Unit Trust
Earlier this week, the company announced it was going to purchase the remaining 57 per cent interest in PharmX
Corum will pay nearly $8 million in cash for the company and paid around $4 million on Friday
The company is also undertaking an entitlement offer at 4.2 cents per share to raise around $5.6 million
Funds raised will be used to partly fund the purchase of PharmX, working capital and offer and transaction costs
On market close, Corum remains steady and is trading for five cents per share