OTCPK:CNPOF - Post by User
Post by
proneon Oct 15, 2018 11:08am
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Post# 28801680
Bruce at work - Canopy Growth Acquires IP Portfolio
Bruce at work - Canopy Growth Acquires IP Portfolio 1 hour ago by MT Newswires
09:53 AM EDT, 10/15/2018 (MT Newswires) -- Canopy Growth (CGC) has agreed to acquire the IP portfolio of hemp researcher ebbu Inc. for CAD25 million ($19.2 million) in cash and 6.2 million shares. Up to a further CAD100 million in purchase price shall be payable if certain scientific related milestones are achieved within two years following closing.
Canopy Health Innovations, a newly-formed subsidiary of Canopy Growth, will employ ebbu's assets and personnel to conduct R&D to develop hemp and THC-rich cannabis genetic breeding program and to promote its cannabis-infused beverage capabilities.
There will be no production or sale of products resulting from such R&D in the US unless and until it would be federally legal to do so.