Bynd Cannasoft Market: cap more than triples on ZC buyout deal

BYND Cannasoft Enterprises

19/09/2022 13:27

** U.S.-listed shares of BYND Cannasoft Enterprises Inc
 BCAN.O  soar ~218% to $13.25 premarket, set to open at record
high
    ** BCAN signs deal to acquire 100% ownership of Israel-based
Zigi Carmel Initiatives & Investments Ltd (ZC), which hold the
patent pending intellectual property for EZ-G
    ** EZ-G device regulates the flow of low-concentration CBD
oils into the soft tissues of the female reproductive system
    ** Co will issue ZC's owner close to 7.9 mln common shares
at $4.735 apiece, valuing the deal at $28 mln; BCAN expects deal
to close this month  urn:newsml:reuters.com:*:nGNX2D3Wvx
    ** "From the moment we complete the purchase of ZC, we plan
to hit the ground running by initially securing any required
regulatory approval from the appropriate authorities" - CEO
Yftah Ben Yaackov

 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com))