news
3 minutes ago by GlobeNewswire
ICC Labs Inc. ("ICC Labs" or the "Company") (TSX-V:ICC) (Frankfurt:2Q9) is pleased to provide an update on its previously announced proposed strategic investment in Global Group Kalapa S.L. ("KALAPA"), a private company headquartered in Barcelona.
In accordance with a term sheet signed by ICC Labs and KALAPA, ICC Labs intends to acquire an initial 25% equity stake in KALAPA at an agreed upon valuation for KALAPA of EUR3,500,000 to be paid with a combination of cash, pure CBD produced by ICC Labs, and common shares of ICC Labs valued at an agreed upon price per common share of Cdn.$1.40. The allocation of the consideration is to be determined by the parties pursuant to a definitive acquisition agreement.
In addition, ICC Labs will be granted an option to acquire the remaining 75% of KALAPA at the same valuation prior to the end of 2018 in a combination of cash and securities of ICC Labs.
The closing of the investment remains subject customary closing conditions, including approval of the TSX Venture Exchange (the "TSX-V"), negotiating and entering into definitive transaction documents and the completion of due diligence.
ABOUT GLOBAL GROUP KALAPA S.L.
Global Group Kalapa SL is a holding company based in Barcelona, Spain. It is owner of Kalapa Clinic - the first pan-European medical consultancy specializing in treatments with cannabinoids - as well as of KSK Labs, a producer and manufacturer of products based on CBD. Kalapa furthermore is a joint venture partner in other projects with medicinal cannabis, one of them being CanPharma, an applicant for an import and distribution license in Germany.
ABOUT ICC LABS INC.
ICC Labs is a fully licensed producer and distributor of medicinal cannabinoid extracts, recreational cannabis and industrial hemp products in Uruguay as well as a fully licensed producer of medicinal cannabis in Colombia. The Company has active operations in Uruguay, and is focused on becoming the worldwide leading producer of cannabinoids extracts, giving support and promoting the responsible use for medicinal purposes, backed by scientific research and innovation, while following strict compliance and the highest standards for quality and safety.
3 minutes ago by GlobeNewswire
ICC Labs Inc. ("ICC Labs" or the "Company") (TSX-V:ICC) (Frankfurt:2Q9) is pleased to provide an update on its previously announced proposed strategic investment in Global Group Kalapa S.L. ("KALAPA"), a private company headquartered in Barcelona.
In accordance with a term sheet signed by ICC Labs and KALAPA, ICC Labs intends to acquire an initial 25% equity stake in KALAPA at an agreed upon valuation for KALAPA of EUR3,500,000 to be paid with a combination of cash, pure CBD produced by ICC Labs, and common shares of ICC Labs valued at an agreed upon price per common share of Cdn.$1.40. The allocation of the consideration is to be determined by the parties pursuant to a definitive acquisition agreement.
In addition, ICC Labs will be granted an option to acquire the remaining 75% of KALAPA at the same valuation prior to the end of 2018 in a combination of cash and securities of ICC Labs.
The closing of the investment remains subject customary closing conditions, including approval of the TSX Venture Exchange (the "TSX-V"), negotiating and entering into definitive transaction documents and the completion of due diligence.
ABOUT GLOBAL GROUP KALAPA S.L.
Global Group Kalapa SL is a holding company based in Barcelona, Spain. It is owner of Kalapa Clinic - the first pan-European medical consultancy specializing in treatments with cannabinoids - as well as of KSK Labs, a producer and manufacturer of products based on CBD. Kalapa furthermore is a joint venture partner in other projects with medicinal cannabis, one of them being CanPharma, an applicant for an import and distribution license in Germany.
ABOUT ICC LABS INC.
ICC Labs is a fully licensed producer and distributor of medicinal cannabinoid extracts, recreational cannabis and industrial hemp products in Uruguay as well as a fully licensed producer of medicinal cannabis in Colombia. The Company has active operations in Uruguay, and is focused on becoming the worldwide leading producer of cannabinoids extracts, giving support and promoting the responsible use for medicinal purposes, backed by scientific research and innovation, while following strict compliance and the highest standards for quality and safety.