Innovation1 Biotech Inc.: M&A transaction — Innovation1 Biotech sells Mioxal® assets to Ingenius Biotech for stock and royalties

Innovation1 Biotech Inc.

Company transferred all Mioxal-related assets including IP to Ingenius Biotech S.L.
Consideration includes 350,000 shares of Innovation1 common stock to Ingenius.
Ingenius to pay $100,000 upon first sale/commercialization and a 5% royalty on net sales.
Ingenius releases Innovation1 from all Mioxal liabilities and provides indemnification.
Transaction completed on November 7, 2022.

item 2.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.95

Innovation1 Biotech Inc. completed a disposition involving Ingenius Biotech S.L. (closed 2022-11-07).

Action: disposition
Counterparty: Ingenius Biotech S.L.
Closing: 2022-11-07

Exact text from the filing

On November 7, 2022, Innovation1 Biotech Inc., a Nevada corporation (the “Company”), completed the disposition (the “Disposition”) of all of the assets, including intellectual property assets, relating to Mioxal®, a nutraceutical complex composed of essential amino acids, natural coenzymes and minerals, to Ingenius Biotech S.L., a corporation organized under the laws of Spain (“Ingenius”).

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Source: SEC EDGAR

accession 0001477932-22-008514

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