In This Article:
Las Vegas, Nevada--(Newsfile Corp. - December 16, 2022) - TRINITY RESOURCES INC. (OTC Pink: TRRI) (the "Company" or "Trinity") announces that further to its news release on August 29, 2022, it has applied for name and symbol change to reflect its new name of ALZEX NEUROPHARMA INC. and is awaiting final approval from FINRA of its Corporate Action.
In August, the Company completed its end of the terms of the binding Asset Purchase Agreement (the "Agreement") whereby it has acquired all of the assets and intellectual property (the "Assets") of Alzex Biomedical Group Inc. Pursuant to the terms of the Agreement, Trinity issued ten million (10,000,000) restricted shares of Trinity's Series A Convertible Preferred Stock to Alzex Biomedical Group Inc. Trinity will also advance the sum of one hundred and fifty thousand dollars ($150,000 USD), to be disbursed by mutual agreement within the Alzex team, to settle certain outstanding liabilities of Alzex as well as to further secure and refile additional patent protection covering the acquired intellectual property. The shareholders of Trinity's Series A Convertible Preferred Stock will retain security over the intellectual property until Trinity has successfully raised the first five million dollars ($5,000,000 USD) that shall be deployed towards the pre-clinical and clinical development of the acquired Alzex assets, at which point the preferred shares will automatically convert into common shares on a one-to-one basis. If shareholders of Alzex have not already done so, they should contact Transhare Corporation, the Company's transfer agent of record, at (303) 662-1112 to provide their individual shareholder information so their shares of Series A Convertible Preferred Stock may be held in their names.
Alzex Biomedical Group Inc. is a Canadian based development stage biopharmaceutical company which has developed and patented precision therapeutics for the treatment of Alzheimer's Disease and other neurological diseases. It currently holds two families of patents via an exclusive and unlimited licensing agreement with INSA (Institut National des Sciences Appliquées) a major French academic engineering and research institute.
Alzex Biomedical Group Inc. has devised an innovative therapeutic approach aimed at treating brain diseases by means of highly selective bio precursor drugs (prodrugs). The validity of this approach is evidenced by the company's progress on Alzheimer's Disease. The company has developed and patented two families of this new class of drugs, for which "proof of concept" in animal trials (in-vitro) has been established.