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Abba Medix Group Gives Update on RedeCan and Blow Vapor Transactions

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Submitted by Marijuana News on Wed, 08/19/2015 - 20:12

TORONTO, ONTARIO--(Marketwired - Aug. 19, 2015) - Abba Medix Group (CSE:ABA) wishes to report that its business arrangements with RedeCan Pharm and Blow Vapor are transforming in the face of rapidly changing conditions in the Canadian medical marijuana marketplace.

Abba Medix's Share Purchase Agreement for the acquisition of RedeCan Pharm lapsed on August 7, 2015. However, the companies have maintained a good working relationship and continue the discussion of a new agreement for Abba Medix to acquire RedeCan Pharm.

Abba Medix's Memorandum of Understanding with Blow Vapor expired July 31, 2015; however, the companies continue to discuss the potential of a new deal.

Ray Rasouli, CEO of Abba Medix stated, "The Canadian medical marijuana marketplace is undergoing rapid change. The decision of the Supreme Court of Canada regarding alternative delivery systems for medical marijuana has had a significant impact on the operating assumptions of the industry and we are very grateful to both...

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URL: 
http://www.stockhouse.com/news/press-releases/2015/08/19/abba-medix-group-gives-update-on-redecan-and-blow-vapor-transactions

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