Special Advisory: Indies Pharma Jamaica Limited (INDIES)

June 29, 2020

Indies Pharma Jamaica Limited (INDIES) has advised that the Company has negotiated with Sagicor Investments Jamaica Limited for a loan by way of Private Place Bond in the amount of $1.12 billion for the following reasons:
i.    Repay Biporist Holdings Inc. the amount of J$398,750,000.00, which was used to purchase 3 acres of land in Montego Bay, St. James;
ii. Develop and get approval for at least two Abbreviated New Drug Applications (ANDA) from the U.S. Food and Drug Administration (USDFA).
INDIES has further advised that this transaction is currently pending and the Company will provide further disclosure to the market in due course

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