Mettrum Health Corp. (TSXV:MT.V) has acquired 100 percent of the shares of Apollo Applied Research Inc.
Under the terms of the Acquisition, Mettrum paid $1 million in cash and issued 522,684 shares from treasury at closing. These shares will be subject to a four-month hold and the Company is required to inform the TSX Venture Exchange of this transaction. In addition, the Company will issue additional shares, over the next 5 years based on Apollo achieving certain operational metrics. Apollo will operate independently as a wholly-owned subsidiary of Mettrum. Based on Mettrum’s evaluation of Apollo’s historical performance and future growth prospects, the Acquisition is expected to be immediately accretive to Mettrum. Apollo generates revenue from OHIP as well as other provincial health insurance plans, research grants and private insurance payments which are secured on behalf of its patients.
Apollo Applied Research has a proven track record of growth in active patients, revenue and research. Apollo is dedicated to identifying the most effect strains of medical cannabis for patients suffering with chronic pain as well as many other medical conditions. Apollo offers an evidence based approach to treating patients with medical cannabis by running two of Canada’s largest medical cannabis studies. Apollo’s continuing research helps better evaluate the benefits of medical cannabis and allows Apollo to discover and better understand the most effective strains for each condition.
Apollo has been conducting clinical research on chronic pain since 2014 and in March of 2016 Apollo launched its newest study analyzing the effects of medical cannabis on patients with PTSD.
Apollo’s research has been published in multiple medical journals and is regularly called upon to present at medical seminars and conferences including the Clinical Research Association of Canada. Apollo’s strong emphasis on research sets the company apart and is consistent with Mettrum’s commitment to advancing the understanding of cannabis in the treatment of a variety of medical conditions.
“Apollo facilitates access to medical cannabis by putting patients together with qualified health care professionals. The Apollo staff are dedicated professionals who specialize in training, support, education and advocacy for qualified patients for whom cannabis may be used medically,” said Michael Haines, Chief Executive Officer of Mettrum. “Bryan Hendin, Apollos’s Founder and President, will continue to run the company, and I would like to welcome the Apollo team to the Mettrum group of companies. We are all very excited and look forward to working together while realizing synergies and creating value for all stakeholders.”
“We are extremely excited to be joining the great team at Mettrum and working together to accelerate growth across the board. Apollo has been researching strains of medical cannabis for several years and our new collaboration with Mettrum will allow us to work together to offer patients the most effect cannabis products” said Bryan Hendin. “I am very impressed with the focus which Mettrum brings to quality assurance and how effective this is in dealing with the demands of patients.”
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CanBud Distribution Corporation Closes 2M Second and Final Tranche of its Oversubscribed Private Placement Offering
CanBud Distribution Corporation (CSE: CBDX) (FSE: CD0) (“CanBud” or the “Corporation”) is pleased to announce that it has closed the final tranche of its oversubscribed non-brokered private placement for aggregate gross proceeds of approximately $4,730,000 (the “Offering”).
The Corporation issued a combined total of 39,409,346 units (each a “Unit“) at price of $0.12 per Unit, with each Unit comprised of one common share in the capital of the Corporation (each a “Common Share“) and one common share purchase warrant (each a “Warrant“). Each Warrant entitles the holder to purchase one additional Common Share at an exercise price of $0.22 within 24 months of the closing of the Offering (the “Warrant Term“), provided, however that if the closing price of the Common Shares on the Canadian Securities Exchange (the “CSE“) (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) is $0.25 or greater per Common Share for a period of five (5) consecutive trading days at any time after the closing date of the Offering, the Corporation may accelerate the Warrant Term such that the Warrants shall expire on the date which is 30 days following the date a press release is issued by the Corporation announcing the reduced warrant terms.
Thoughtful Brands Inc. (CSE:TBI)(FSE:1WZ1)(OTCQB:PEMTF) (the “Company” or “Thoughtful Brands) announces that the letter of intent with Franchise Cannabis Corp. (“FCC”), previously announced in January, has been terminated. The previously announced European joint venture with FCC will continue and allow the Company to launch and tailor its products to European consumer demands
In connection with termination of the merger transaction with FCC, the Company has agreed to pay FCC $100,000 in cash and to issue FCC 5,000,000 common shares of the Company at a deemed value of $0.05 per share. The common shares will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.
Mergers and acquisitions (M&A) in cannabis space have helped boost the industry to new levels.
Strategic sale of non-core assets by Lobe adds non-dilutive capital and shareholder value
Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company”) is pleased to announce, further to its press release dated February 23, 2021, that it has completed the sale to Ionic Brands Corp. (“Ionic Brands”) of Lobe’s non-core cannabis assets relating to Washington-based Cowlitz County Cannabis Cultivation Inc. (“Cowlitz”) held by Lobe’s subsidiary vendor, Green Star Biosciences Inc. (the “Transaction”).
Seattle Area Grocery Chain Metropolitan Market to Begin Carrying KOIOS and Fit Soda on March 22, 2021
Adding to its existing presence on the west coast of the United States, all five KOIOS™ flavours and all four Fit Soda™ flavours will be carried in Metropolitan Market stores beginning on Monday, March 22, 2021. Serving the Seattle-Tacoma area (population 3.87 million), Metropolitan Market is one of five chains under its parent firm Good Food Holdings, which has a total of 51 stores in California, Oregon, and Washington State.
Koios Beverage Corp. (CSE: KBEV; OTC: KBEVF) (the “Company” or “Koios”) is pleased to announce that beginning on Monday, March 22, 2021, Koios’ entire line of canned beverage products will be sold at all locations of Metropolitan Market, an urban format supermarket chain in the Seattle-Tacoma area of Washington State. In Q1 2021, the Company announced multiple placements of its beverage products with regional grocers in markets on the west coast of the United States including Market of Choice in Oregon Jensen’s in Southern California and major natural grocery chain Sprouts Farmers Market which has a substantial west coast presence with over one third of its locations (360+ stores across 23 states) in California as well as Washington State 1 . The Company has also recently announced other developments relating to its expansion efforts being undertaken in 2021 such as an in-house beverage canning facility and distribution agreements with regional and national wholesale partners.