Echo Pharmaceuticals B.V. signed a letter of intent to acquire Samco Gold Limited (TSXV:SGA), in a reverse merger transaction on April 17, 2019. Under the transaction, shares of Echo Pharmaceuticals will be exchanged for shares of Samco, such that Echo Pharmaceuticals will hold 75% stake of the resulting issuer. Upon completion, Samco is expected to change its name to Echo Pharma Limited, or a similarly suitable name, and its trading ticker symbol to ECHO. The resulting issuer will carry on the business of Echo Pharmaceuticals. Samco shall complete a private placement of equity or equity-linked securities, which may include subscription receipts or convertible debt securities, the terms of which will be determined in the context of the market, for gross proceeds of up to $7.5 million. In addition to any applicable shareholder approvals, the transaction is subject the satisfaction of other conditions customary for transactions of this nature, like, satisfactory results of legal, financial and technical due diligence procedures, execution of a definitive agreement and any other ancillary agreements, preparation and filing of a filing statement, receipt of all requisite regulatory, corporate and third party approvals, including the approval and acceptance of the TSXV, approval by shareholders of Samco, completion of the concurrent financing and absence of any material adverse change. The transaction has received sufficient acceptances from shareholders of Echo. As of October 21, 2019, Echo and Samco are in the process of negotiating a definitive agreement with respect to completion of the transaction and completion remains subject to a number of conditions, including but not limited to, TSXV acceptance and if applicable, disinterested shareholder approval. Echo Pharmaceuticals B.V. cancelled the acquisition of Samco Gold Limited (TSXV:SGA), in a reverse merger transaction on June 10, 2020. The transaction was terminated as Samco Gold Limited and shareholders of Echo Pharmaceuticals could not agree upon a reduced valuation for Echo Pharmaceuticals that would make the transaction (including a concurrent financing) viable.