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NovaDel Pharma Inc. Announces Dissolution of the CompanyNovaDel Pharma Inc. (OTC Pink: NVDL) solicited the vote of its shareholders to either approve a business combination with another company, or to approve the dissolution of NovaDel. The consent solicitation concluded on Friday February 17, 2017. The NovaDel shareholders did not approve the business combination, but rather, they elected to dissolve NovaDel and distribute any remaining assets to its shareholders. It is anticipated that the shareholders will receive approximately $0.01 per share in cash upon dissolution after the payment of outstanding liabilities and certain reserves for wind-down expenses. It is expected that the dissolution and distribuion to shareholders will be completed by June 30, 2017.
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