Termination of Proposed Qualifying Transaction __________________________________________________
CT DEVELOPERS LTD.
1764 Rathburn Road East, Unit1 Mississauga,
Ontario L4W 2N8
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NEWS RELEASE
Termination of Proposed Qualifying Transaction
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May 27, 2020 – CT Developers Ltd. (DEV.H) ("CT" or the "Company"), a capital pool
company, wishes to update the status of its previously announced qualifying
transaction, dated November 14, 2019, relating to the acquisition (the "Proposed
Transaction") of Clinical Blockchain Data Services – now known as CBDS Health
Inc. ("CBDS"). The Company announces that due to adverse market conditions and
slow progress, a decision has been made to terminate the Proposed Transaction.
Other Information and Updates
The Company is seeking to have its shares reinstated for trading on the NEX until it
arranges a suitable business or other acquisition - an announcement will be made in
advance of the commencement of trading.
For further information please contact:
Norman Eyolfson,
President &, Chief Executive Officer