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Home 🌿 Cannabis Technology News 🌿 "Farm to Pharma": MMJ Bioscience Inc. and ASX-Listed PhytoTech to Merge 🌿"Farm to Pharma": MMJ Bioscience Inc. and ASX-Listed PhytoTech to Merge
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Highlights
- PhytoTech Medical Limited (PYL) to merge with MMJ Bioscience Inc. (MMJ) to create a multinational vertically integrated Medical Cannabis (MC) company
- A "merger of equals" that strategically positions PYL and MMJ as a diversified, global, growth-oriented and vertically-integrated MC company, from cultivation of medical cannabis to development and distribution of pharmaceutical and nutraceutical products
- MMJ-PYL's "Farm to Pharma" strategy diversifies the merged group across all key segments of the MC value chain
- Deal consideration (based on PYL's last traded share price of $0.305) of $15.5 million in PYL scrip and an additional $5.185 million in performance shares subject to completion of value creating milestones
- Complementary strategies and asset portfolios to yield significant synergies
- Revenue from sales of a proprietary GMP-produced gastro-resistant Cannabidiol (CBD) pill expected by July 2015
- Near-term license approval for MMJ's Duncan Facility (near Vancouver, BC) under ...
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