Biocure Technology Amends Deal to Acquire Glorious Success Limited
News related to:Biocure Technology Inc · 3 min read
Biocure Technology Inc. has announced an amendment to its previously disclosed transaction to acquire Glorious Success Limited (GSL), a Hong Kong holding company that owns Idea Paragon Inc., a South Korean mixed martial arts (MMA) promotion and sports media company operating as Black Combat. The amendment, effective November 10, 2026, adjusts the aggregate consideration for the GSL Shares from 12,459,091 shares of Biocure Technology Inc. to 11,325,464 shares. The outside date for the completion of the transaction and related concurrent financing has been extended from December 31, 2026, to January 31, 2027.
The transaction, which was initially announced on August 12, 2026, is expected to result in a consolidation of Biocure Technology Inc.'s existing share capital. The consolidation ratio, determined by the price of GSL securities in the private placement divided by a deemed value of $0.134, is currently expected to be approximately 16.42 old shares for one new common share of the Resulting Issuer. The private placement, a condition of the transaction, is aimed at raising at least $3,090,000 at a price of $2.20 per GSL Share. Biocure Technology Inc. will issue Resulting Issuer Shares on a one-for-one basis for the GSL Shares issued in the private placement.
No finder’s fees are payable in connection with the transaction. However, bonuses equivalent to 250,000 Resulting Issuer Shares each will be awarded to Collin Kim, Konstantin Lichtenwald, and Steven Pearce for their services in association with the transaction. The transaction remains subject to several conditions, including the completion of additional due diligence, the approval of Biocure Technology Inc.'s shareholders, and the approval of the Canadian Securities Exchange (CSE) and other applicable regulatory authorities.
Upon completion of the transaction, the board and management of the Resulting Issuer will be reconstituted to include Pyounghwa Park, Director and Chief Executive Officer; Jongeon Lim, Director and President; Jong Yun Choi, Director; and Anthony Wong, Director. Sang Goo (Collin) Kim, a Vice President of Columbia Capital Inc. since 2008, will also serve as a director. Konstantin Lichtenwald, Chief Financial Officer, brings over 17 years of corporate finance experience.
The transaction is expected to be subject to a debt settlement of approximately $300,000, to be settled through the issuance of pre-consolidation common shares of Biocure Technology Inc. at a price of $0.134 per share. Portions of the debt are expected to be settled with members of the company’s management team, constituting a “related party transaction” as defined in MI 61-101. The settlement shares will be subject to applicable resale restrictions under securities laws.
Approval for the transaction, including the consolidation, will be sought from Biocure Technology Inc.’s shareholders at an annual and special meeting to be held on December 16, 2026. The company intends to change its name to “Black Combat Universe Inc.” or an alternate name selected by the parties upon completion of the transaction.
Black Combat, the MMA promotion and sports media company owned by GSL, has seen significant growth. The upcoming Black Combat 17 event, scheduled for November 21, 2026, at Gocheok Sky Dome, has already sold out its 21,000 audience capacity. The main event will feature Kim Jae-Woong, the current Champion, and Kang Kyung-Ho, a former UFC Fighter. A co-main event will be a legendary retirement match between Choo Sung-hoon and Chris Leben. Additionally, Black Combat has recently released six theme-songs with collaborations from Korean hiphop artists, which will be featured in the half-time show of Black Combat 17.
The Black Cup Final, a nation-wide event expected to be held in Ulaanbaatar, Mongolia, in December 2026, is anticipated to be Black Combat’s biggest year-end event. The Black Cup 2026 started as a round of 8 but will expand to a round of 16 in 2027, with participating countries to be revealed in the 2027 Black Combat content.
The company will issue further releases providing additional details in accordance with the policies of the CSE. A copy of the amendment will be filed under Biocure Technology Inc.’s profile on SEDAR+.