11/19/2024 | Press release | Distributed by Public on 11/19/2024 16:04
Item 1.01. Entry into a Material Definitive Agreement.
On November 15, 2024, Zomedica, Inc., a wholly-owned subsidiary of Zomedica Corp., entered into a Lease Agreement (the "Lease") with 1101 Technology Drive, L.L.C (the "Landlord") for property located at 1101 Technology Drive, Suite 100, Ann Arbor, MI 48108 (the "Leased Premises"). The Lease will commence on February 1, 2025 and replaces the existing lease with Wickfield Properties LLC for the Company headquarters located at 100 Pheonix Drive, Suite 190, Ann Arbor, MI 48108 which expires on January 31, 2025. The Lease is for 15,371 rentable square feet. The Lease expired on January 31, 2030, but contains two five year options to extend the Lease under substantially the same terms and conditions.
Base rent during the initial term will be:
In addition to base rent, tenant will be responsible utilities and for its proportionate share of expenses and taxes, subject to an annual cap of 5% over prior year expenses and taxes.
The Lease is furnished as Exhibit 10.1 to this current report on Form 8-K and is incorporated herein by reference. The foregoing description of the Lease Amendment does not purport to be complete and is qualified in its entirety by reference to the Lease and the Lease Amendment.