Tuesday, May 26, 2020
10:41 AM EST – EGF Theramed Health Corp. : Announced that it closed on the joint venture transaction with Green Parrot Labs Corp., previously announced on May 22, 2020. Pursuant to the announced Joint Venture and Share Purchase Agreement with Green Parrot and its shareholders, the Company has acquired a 40% equity interest in Green Parrot through the issuance of an aggregate of 7,800,000 of its common shares to the shareholders of Green Parrot. The Company also issued 200,000 common shares as transaction fees to an arm’s length party. The securities are subject to certain pooling restrictions as disclosed in the May 22nd news release. David Bentil, the Company’s CEO commented, “The Joint Venture with Green Parrot Labs represents a progression to our platform as we continue to expand our research and development work in the CBD and psilocybin arenas. Caribbean countries are working hard to provide a conducive working environment in the psychedelic space and their laws make conducting business in this area attractive.” EGF Theramed Health Corp. (TMED:CNX) shares were up 26 cents at 1.48.
Stocks in Play: EGF Theramed Health Corp., Tue, 26 May 2020 10:51:01 EST