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Exploratus Ltd. signs LOI with Procore Ltd.

Calgary, Alberta – TheNewswire - January 19, 2021 - Exploratus is pleased to announce that it has signed Letter of Intent with Procore  Ltd. (“Procore ”) to undertake a reverse takeover transaction.  Procore Ltd. is an Israeli biotechnology company developing innovative solutions in Regenerative Medicine and Orthopedics with its lead product Regenogel , a next-generation treatment for joint pain & damaged cartilage. Procore was founded by Professor Avner Yayon, MD, PhD, scientist and entrepreneur of several bio-tech companies and the discoverer of the treatment for human dwarfism.

Osteoarthritis (OA), known as degenerative joint disease or degenerative arthritis, is the most commonly arising chronic condition that affects the joints leading to severe joint pain and disability. Osteoarthritis is commonly treated by exercise, pain medications including steroidal and non-steroidal drugs, such as paracetamol, naproxen, ibuprofen, and viscosupplements, mainly Hyaluronic acid. Currently, there is no cure for osteoarthritis, and treatment is intended at managing symptoms such as pain and limited range of movement in the joint.

The global osteoarthritis drugs market is expected to witness significant growth rate owing to the rising geriatric population, increasing incidence of osteoarthritis disorders, and growing awareness of diseases like degenerative bone disease. For instance, according to the World health Organization (WHO), 9.6% of men and 18.0% of women aged over 60 years have indicative osteoarthritis worldwide. Among those 80% with osteoarthritis will have limitations in movement and 25% cannot perform their major daily activities of life. This high prevalence generates a great need for novel OA treatments.

The parties intend to structure the transaction as a reverse takeover and, upon closing, current Exploratus shareholders would own approximately 1.6% of the resultant company (approximately 1.2% on a fully diluted basis) after a share consolidation of 1 one post-consolidation share for each 20  pre-consolidation shares, the acquisition of Procore and a pre-transaction financing of $5,000,000.  Conditions to the completion of the transaction will include Procore completing a minimum of a $3,000,000 financing and Exploratus settling its outstanding debt with S. Mark Francis, the CEO of Exploratus in consideration for the transfer of the remaining resource properties of Exploratus to Mr. Francis as well as all required shareholder and regulatory approvals.

More details will be provided once the transaction contemplated by the LOI has been advanced.

For more information on Procore contact Ronnie Jaegermann,

Exiteam Ltd, at  or +972-54-4202054.


S. Mark Francis, CEO

Exploratus Ltd.



Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.