On March 10, 2023 Nuvo Pharmaceuticals Inc. d/b/a Miravo Healthcare (TSX:MRV; OTCQX:MRVFF) ("Miravo" or the "Company") reported that it has obtained a final court order from the Ontario Superior Court of Justice (Commercial List) approving its previously announced arrangement (the "Arrangement") with Searchlight Pharma Inc. (the "Purchaser") (Press release, Nuvo Pharmaceuticals, MAR 10, 2023, View Source [SID1234628545]).

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The Arrangement is expected to close on or about Tuesday, March 14, 2023, subject to the satisfaction or waiver of all conditions to the Arrangement. Following completion of the Arrangement, the Company will be de-listed from the TSX and applications will be made for the Company to cease to be a reporting issuer in each of the provinces of Canada. Pursuant to the terms of the Arrangement, each holder of common shares in the capital of the Company (the "Company Shares") will receive $1.35 in cash, less applicable withholdings.

To receive the consideration under the Arrangement, each registered shareholder of the Company must complete, sign, date and return the letter of transmittal, which accompanied the Company’s management information circular dated February 6, 2023.

The consideration to be paid to the Company’s shareholders under the Arrangement is denominated in Canadian dollars. However, registered shareholders of the Company may elect to receive the consideration in U.S. dollars in the applicable letter of transmittal. Non-registered shareholders of the Company must contact the intermediary in whose name their Company Shares are registered in order to make such an election on their behalf.