Okana Ventures Inc. acquired right, title and interest to certain Spectracef® and Cefditoren Pivoxil products from Vansen Pharma Inc. for $13.6 million in cash and stock on July 30, 2013. Under the terms of agreement, Okana Ventures has purchased right, title and interest to certain Spectracef® and cefditoren pivoxil products in the United States, along with related contracts, records, inventories and product registrations. Vansen will retain the right, title and interest to the products in Canada. As consideration, Okana Ventures paid $0.9 million in cash and issued 3.6 million shares, representing 50.1 % stake in Okana Ventures. On July 30, 2013, Okana Ventures Board of Directors approved the change of our name to Vansen Pharma Inc. Concurrently with the transaction with Vansen, Okana Ventures also entered into a private placement subscription agreement to raise gross proceeds of $1.5 million for the issuance of 3.2 million shares of our common stock, at a price of $0.46 per share on a post split basis. Marvin Singer of Norton Rose Canada LLP acted as legal advisor for Okana Ventures.

Okana Ventures Inc. completed the acquisition of right, title and interest to certain Spectracef® and Cefditoren Pivoxil products from Vansen Pharma Inc. for $13.6 million in cash and stock on July 30, 2013.