M&A showiing major restructure of the company.A must read "MPXI" or the "Company") (CSE: MPXI; OTC: MPXOF) today reports financial results for the fiscal second quarter and six-month period ended March 31, 2019. All figures are presented in Canadian dollars unless otherwise indicated.
Recent Highlights:
- Acquisition of Non-U.S. Assets of MPX Bioceutical Corporation ("MPX"): On February 5, 2019, MPXI acquired all the Non-U.S.-assets of MPX. MPXI subsequently commenced trading on the Canadian Securities Exchange on February 6, 2019.
- Private Placement Offering: On March 21, 2019, MPXI completed a non-brokered private placement of C$26,905,162 (approximately US$20,200,000). Proceeds will be used to fund the build out of a facility located in Owen Sound, Ontario, and for acquisitions, working capital and general corporate purposes.
- Receipt of License by Canveda Inc. ("Canveda"): MPXI received its sale for medical purposes and standard processing licenses effective as of February 22, 2019 for its cultivation and production facility in Peterborough, Ontario. The license will allow Canveda, conditional upon Health Canada's final pre-sales inspection, to develop its medical patient and product strategy and to commence selling their own products directly to registered patients for medical purposes.
- Agreement to Acquire Alphafarma Operations Ltd. ("Alphafarma"): On April 23, 2019, MPXI entered into a definitive agreement to acquire a GMP-ready pharmaceutical facility in Malta, and received a letter of intent from the economic development agency for the Republic of Malta to receive a license to import, extract, produce finished products and distribute cannabis and cannabis derivatives.
- Acquisition of HolyWorld SA ("HolyWeed"), Switzerland: On May 22, 2019, MPXI completed the acquisition of HolyWeed, a Swiss CBD brand, for CHF10,000,000 (C$13,384,000)