Crescita Therapeutics Inc. (TSX: CTX) (OTC US: CRRTF) (“Crescita” or the “Company”), a growth-oriented, innovation-driven Canadian commercial dermatology company, today announced that it has completed the acquisition of a minority interest in Akyucorp Ltd. d/b/a The Best You®, a privately-held network of six medical aesthetic clinics in the province of Ontario (“The Best You”). In consideration for the minority interest investment, Crescita will issue 470,128, or 2.2% of its common shares (the “Common Shares”), at a price of $0.70 per Common Share. In addition, the Company will support the Best You’s growth strategy by way of a secured convertible promissory note (the “Convertible Note”) with an initial principal amount of C$0.5M, that could reach up to C$1.25M, contingent on certain events and conditions being met. The Convertible Note will bear interest at variable rates based on the annual volume of purchases of Crescita products and is convertible at Crescita’s option into an additional equity interest in The Best You.
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