March 4 (Reuters) - GeneNews Ltd GEN.TO :
* Acquires full control of Innovative Diagnostic Laboratory
* Says will assume any and all of Cobalt's liability relating to cobalt's $US 1
million secured demand promissory note
* Says the purchasing agreement is subject to GeneNews completing a strategic
financing during March 2016
* Says no other consideration will be paid
* Unit will acquire Cobalt's fifty percent ownership interest in the Innovative
Diagnostic Laboratory joint-venture
* Additionally, GeneNews has asked for and received a one year extension on the
term of the note, making it due in May 2017
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