ResolutionRx Ltd, a wholly owned subsidiary of RespireRx Pharmaceuticals Inc. Enters into LOI and Term Sheet with Radium Capital for the financing of anticipated Research and Development Credits
Glen Rock, N.J., Feb. 01, 2023 (GLOBE NEWSWIRE) — RespireRx Pharmaceuticals Inc. (OTC Markets: RSPI) (“RespireRx” or the “Company”), a leader in the discovery and development of innovative and revolutionary treatments to combat diseases caused by disruption of neuronal signaling, is pleased to announce that, on January 27, 2023, ResolutionRx Ltd (“ResolutionRx”), a newly formed Australian unlisted public company, and initially, a wholly-owned subsidiary of RespireRx, entered into a Letter of Intent (“LOI”) and Term Sheet (“Term Sheet”) with Radium Capital (“Radium”). The LOI and Term Sheet summarize the background and principal terms of a series of planned financing arrangements between Radium Capital (“Radium”) and ResolutionRx Ltd, in order to unlock research and development tax credits available in Australia to companies like ResolutionRx.
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