Edesa Biotech acquires Stellar Biotechnologies in a reverse merger transaction

On June 7, 2019, Edesa Biotech, Inc., a private Canadian biotech company, completed a business combination pursuant to a share exchange transaction with Stellar Biotechnologies, Inc. The combined company, called Edesa Biotech, Inc., commenced trading on the Nasdaq Capital Market on June 10, 2019 under the symbol “EDSA”. Under the deal's terms, Edesa shareholders, who agreed to exchange their Edesa shares for newly-issued shares of Stellar, now own approximately 88% of the new company, with Stellar’s previous shareholders holding the remainder. Following the closing of the share exchange transaction and having given effect to the reverse share split, the combined company has approximately 7,138,233, shares issued and outstanding. Fasken advised Edesa Biotech Inc. with a team lead by Wojtek Baraniak and John Sabetti and including Steve Saville, Russell Lindzon, Luisa Ferron, Christian Paquette, Alexis Shamess and Justine Reilser.