Scythian Biosciences (CSE:SCYB) announced the Florida Department of Health Office of Medical Marijuana Use (DOH) approved its equity transfer of 3 Boys Farms to CannCure investments.
As quoted in the press release:
As part of the transaction, the DOH has also approved the initial transfer of the first 60 [percent] of equity from 3 Boys Farms to CannCure and the remaining balance of 40 [percent] will close as soon as possible, subject to the receipt of all required governmental approvals from the DOH.
“This is a major milestone in the rollout of our U.S. expansion,” said Scythian CEO Brady Cobb. “It’s an important part of the strong presence we are building in the burgeoning U.S. cannabis industry, with Florida representing one of the most coveted markets to be a licensed operator in.”