ProPhase Labs Signs Non-Binding LOI For Proposed Reverse Merger With Advanced Biological Laboratories

Dec 19 (Reuters) - Prophase Labs Inc PRPH.O:

• PROPHASE LABS SIGNS NON-BINDING LOI FOR PROPOSED REVERSE MERGER WITH ADVANCED BIOLOGICAL LABORATORIES

• PROPHASE LABS INC: UNDER DEAL, ABL WOULD BECOME MAJORITY OWNER OF COMBINED ENTITY

• PROPHASE LABS INC: PROPOSED DEAL FOR MAY IMPLY AN ENTERPRISE VALUE OF UP TO APPROXIMATELY $30 MILLION

• PROPHASE LABS INC: UNDER LOI, MAY DECLARE A SPECIAL CASH DIVIDEND OF UP TO $10 MILLION

• PROPHASE LABS: PROPOSED DEAL ENVISIONS THAT ABL SHAREHOLDERS WOULD OWN ABOUT 76% OF COMBINED CO AT CLOSING