RE:Evolution BNK present Hemp Beer Masdimiliano, thank you for posting the good news!
The followings are quoted from the MD&A (released in November 29, 2019, https://www.sedar.com/CheckCode.do ) about the Evolution Group:
The Evolution Group (“Evolution”) is a cannabis business based in Italy and established for the production and distribution of industrial cannabis and cannabis derived products. The business mainly operates from its cannabis production facility and lab which is part of a phased retrofitting of a 70,000 square foot site in Pavia, Italy. The cannabis to be produced by Evolution will be legal low THC (< 0.2% THC by Italian law). Evolution is also in the process of applying for a medical cultivation licence which is consistent with Elixxer’s strategy and offers important access to higher margin product sales in the growing medical cannabis sector in Europe. Evolution has received its ISO9001:2015 Certification of Production, processing, marketing of products from industrial hemp for its Pavia facility in Italy.
On August 13, 2018, the Company entered into the Evolution Debenture with 9379-1432 Quebec Inc. (“QuebeCo”), the Canadian incorporated parent company of Evolution BNK and Evolution ATM and their principals, to provide a EUR3,000,000 secured loan, convertible into a 49% equity interest in QuebecCo upon the successful completion of an IPO. The Evolution Debenture bears interest of 10% per annum. The completion of the Evolution Debenture transaction is subject to condition precedent, including TSX-V approval. In addition, on August 13, 2018, the Company entered into an agreement with QuebecCo for a 5% royalty on the net sales of Evolution BNK and Evolution ATM. The royalty is secured by the assets of QuebecCo.
On May 21, 2019, the Company transferred a net agreed amount of EUR627,590 to Evolution reflecting the final tranche of EUR885,000 (EUR2,115,000 previously transferred) less accrued interest up to May 15, 2019 and associated costs in connection with the Evolution debenture.
On May 29, the Company announced that Evolution is completing the retrofit of its 22,000 square foot indoor facility within their 70,000 square foot compound in Pavia, Italy for the production of high CBD, low (< 0.2%) THC cannabis.
On July 24, 2019, the Company announced that Evolution has received its ISO9001:2015 Certification of Production, processing, marketing of products from industrial hemp for its Pavia facility in Italy.
On August 30, 2019, Evolution BNK’s Italian certifying consultants Studio Sannino S.A.S have advised Elixxer that Evolution BNK has now received final GMP Certification for Production, processing, marketing of products derived from Industrial hemp for its new Pavia facility in Italy.
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It is good to know the Elixxer’s significant investments and activities. Cheers!
Please be noted that this is only the information I have read. It is NOT any investment advice. Do your own DD.