CVR Medical Corp. (TSXV:CVM) entered into a letter of intent to acquire an additional 10% stake in the joint venture focused on the commercialization of the Carotid Stenotic Scan (‘CSS JV’) from CVR Global Inc. for CAD 1.8 million in stock on March 9, 2017. On May 29, 2018, the terms were revised and CVR Medical agreed to acquire the remaining 50% interest that it does not already own in the CSS JV from CVR Global for a maximum total consideration of CAD 11.3 million payable in the form of 30 million shares of CVR Medical. As consideration, CVR Medical will issue 3 million common shares on approval and signing of agreement, 2 million shares on FDA submission, 10 million shares upon FDA clearance and the remaining 15 million shares on achievement of CAD 50 million of sales revenue from CSS device sales. CVR Medical issued the 3 million upfront shares as of November 21, 2018. These shares are subject to a customary statutory four month hold period under Canadian securities laws. In addition, CVR Global is also being granted a 7% royalty on all CSS device sales, with a 3% royalty on all associated disposable sales. The joint venture will be terminated as a result of the transaction. The deal is subject to approval of TSX Venture Exchange. The agreement has been approved by the Board of Directors of both the organizations and is subject to the approval of shareholders of CVR Medical. As on November 27, 2018 the deal was approved by TSX Venture Exchange. A special committee was also formed in respect of the transaction. CVR Medical Corp. (TSXV:CVM) completed the acquisition of the remaining 50% stake in the joint venture focused on the commercialization of the Carotid Stenotic Scan (‘CSS’) from CVR Global Inc. on November 27, 2018. Pursuant to the transaction, a new Delaware corporation wholly-owned by CVR Medical will be formed which will license from CVR Global and CVR Medical all necessary patents and technology in respect of the CSS Device. Going forward the CSS Device will be developed and manufactured under the terms of a CSS commercialization agreement entered into between CVR Medical and CVR Global.