Indies Pharma Jamaica Limited (INDIES) has advised that the Company has secured a private placement bond for the amount of Eight Hundred and Five Million Dollars ($805,000,000) to be with a 5-year loan payment plan. The loan was secured for the following reasons:
i. Repay Biporist Holding Inc. the amount of J$398,750,000, which was used to purchase 3 acres of land in Montego Bay, St. James, registered at Volume 1264 Folio 366 of the Register Book of Titles in the name of the Issuer’s subsidiary – Indies Pharma Business Park Limited (the “Property”);
ii. Develop and get approval for two Abbreviated New Drug Applications (ANDA) from the U.S. Food and Drug Administration (USDFA)
