Neuro-Biotech Corp. (PINKSHEET: MRES) (OTCQB: MRES) is pleased to provide its shareholders additional details about the unsolicited offer received on February 9, 2011. The offer was received from Auric Pharma Science, a well established company based out of Madrid, Spain, that has been operating since 1972. The offer provided is for the purchase of all the outstanding shares of MRES at a price of $0.15 per share.
As announced this morning, management has deemed it in the best interest of the Company to accept such an offer based on the documents provided by Auric. However, there are outstanding conditions that have yet to be met in order to complete the due diligence. Such details should be addressed by end of the day, on February 25, 2011.