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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