DENVER, Colo., May 16, 2019- (24/7MarketNews via COMTEX) Venture Market News for May 16, 2019.
Supreme Cannabis to Acquire Premium Wellness Cannabis Company Blissco
- Blissco to complement Supreme Cannabis growing brand portfolio and accelerate its growth as a premium wellness-focused cannabis company.
- Share-based acquisition allows Blissco shareholders to continue to participate in upside of combined companies, and benefit from enhanced liquidity and access to capital.
- Supreme Cannabis has secured support from shareholders of Blissco representing approximately 52%, including CEO Damian Kettlewell.
- Acquisition valued at approximately C$48 million.
TORONTO, May 16, 2019 (GLOBE NEWSWIRE) — The Supreme Cannabis Company, Inc. (“Supreme Cannabis”) (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) and Blissco Cannabis Corp. (“Blissco”) (CSE: BLIS) (OTCQB: HSTRF) (FRA: GQ4B:GR) are pleased to announce that they have entered into a definitive arrangement agreement (the “Arrangement Agreement”) under which Supreme Cannabis will acquire, by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia) (the “Arrangement”), all of the issued and outstanding common shares of Blissco (the “Blissco Shares”) not already owned by Supreme Cannabis. The Arrangement is an all-stock transaction with a total value of approximately C$48 million.
Surge Provides Update on Rollout of SurgePays Network and Announces 15% Increase in Revenue to $3.9 Million for the First Quarter of 2019
Memphis, TN, May 16, 2019 (GLOBE NEWSWIRE) — Surge Holdings, Inc. (“Surge”) (OTCQB: SURG), developer of the SurgePays™ Network for independent retailers, today provided a business update and announced financial results for the first quarter ended March 31, 2019.
LGC Capital Announces Agreement to Acquire a Significant Interest in Fully Licenced European Pharmaceutical Company, Freia Farmaceutici Srl.
- LGC Capital to acquire a significant stake in European pharmaceutical company, Freia.
- Freia is currently the only company in Italy, and one of few in Europe with EFSA approved hemp-based pharmaceutical products.
- Freia currently has 6 products on the market; a further 8 have been authorized and will be launched in 2019. Another 9 drugs are awaiting authorization for commercial use from the Italian Ministry of Health.
- Freia has been granted 2 patents and submitted a further 5 patent applications.
- Freia plans to expand sales of its approved drugs in to other European and Asian markets in 2019.
MONTREAL, May 16, 2019 (GLOBE NEWSWIRE) — LGC Capital Ltd. (TSXV: LG and OTC-QB: LGGCF) (“LGC”) is pleased to announce that it has entered into an investment agreement to acquire a 35% equity interest in the hemp-focused Italian pharmaceutical company, Freia Farmaceutici Srl (“Freia”).
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