Bionik Laboratories Corp. (OTCMKTS:BNKL) Files An 8-K Entry into a Material Definitive Agreement
On December 14, 2018, a wholly-owned subsidiary of Bionik Laboratories Corp. (the “Company”) entered into a Sale of Goods Agreement (the “Agreement”) with CHC Management Services, LLC (“Kindred”), dated as of December 13, 2018, to which, among other things, Kindred agreed to purchase from the Company in a first phase a minimum of 21 of the Company’s InMotion ARM Interactive Therapy Systems – a minimum of one for each of Kindred’s existing and soon-to-open affiliated inpatient rehabilitation hospitals and similar facilities described in the Agreement and in a second phase a minimum of one InMotion ARM Interactive Therapy System for each future facilities of Kindred, during the four-year minimum term of the Agreement.
The purchase price per unit is based on the purchase order and delivery date of the unit, as described in the Agreement. The Company expects that Kindred will enter into an initial purchase order for eight units of the InMotion ARM Interactive Therapy System for shipment on or before December 31, 2018, at the purchase price described in the Agreement.
The Agreement is subject to reasonably customary terms regarding shipment and delivery, early termination, and warranties and liability, among other matters.
The foregoing is a brief description of the terms of the Agreement and is qualified in its entirety by reference to the full text of the Agreement, a copy of which is included as Exhibit 10.1 to this Current Report on Form 8-K, which is incorporated herein by reference.
Statements contained in this Current Report on Form 8-K relating to the Company’s intentions, hopes, beliefs, expectations or predictions of the future, including statements relating to the Company’s results of operations and financial results and any other statements about the Company’s future expectations, beliefs, goals, plans or prospects, are forward-looking statements. The Company’s actual results could differ materially from those projected in these forward-looking statements. These forward-looking statements are made on the basis of the current beliefs, expectations, and assumptions of management, are not guarantees of performance and are subject to significant risks and uncertainty. These forward-looking statements should, therefore, be considered in light of various important factors, including those set forth in the Company’s periodic reports filed from time to time with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this Current Report on Form 8-K. The Company disclaims any obligation to publicly update or release any revisions to these forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this Current Report on Form 8-K or to reflect the occurrence of unanticipated events, except as required by law.
The Company issued a press release on December 17, 2018 in connection with the Agreement. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
|Item 9.01||Financial Statements and Exhibits.|
Bionik Laboratories Corp. Exhibit
EX-10.1 2 tv509222_ex10-1.htm EXHIBIT 10.1 Exhibit 10.1 SALE OF GOODS AGREEMENT This SALE OF GOODS AGREEMENT (this “Agreement”),…
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About Bionik Laboratories Corp. (OTCMKTS:BNKL)
Bionik Laboratories Corp. (Bionik), formerly Drywave Technologies, Inc., is a medical device and robotics company. The Company is focused on providing rehabilitation solutions and developing transformational technologies and solutions to individuals with neurological disorders, specializing in the designing, developing and commercializing of physical rehabilitation technologies, prosthetics and assisted robotic products. It has over three products on the market and approximately three products in various stages of development. The InMotion Systems include the InMotion ARM, InMotion HAND, InMotion Wrist and InMotion ANKLE are designed to provide patent-adaptive therapy in a manner that has been clinically verified to manage neuro-recovery. The Company is also engaged in developing a lower-body exoskeleton, ARKE, which designs to allow paraplegics, as well as other wheelchair users the ability to rehabilitate through walking.