Brief: IM Cannabis Continues European Expansion, Establishes Joint Venture And Supply Agreement In Greece

IM Cannabis

28/01/2020 12:15

Jan 28 (Reuters) - IM Cannabis Corp  IMCC.CD :
    * IM CANNABIS CONTINUES EUROPEAN EXPANSION, ESTABLISHES
JOINT
VENTURE AND SUPPLY AGREEMENT IN GREECE
    * IM CANNABIS CORP - CO TO BECOME 25% JV PARTNER FOR
CULTIVATION
AND PROCESSING OPERATION IN GREECE
    * IM CANNABIS CORP - REMAINING 75% OF JOINT VENTURE WILL BE
OWNED
BY GALEN
    * IM CANNABIS - COS COMMITTED TO FUND INITIAL CAPEX,
TOTALLING
ABOUT UP TO EUR 8 MILLION TO FUND CONSTRUCTION OF CULTIVATION &
PROCESSING FACILITY IN GREECE
    * IM CANNABIS CORP - WILL INVEST FROM EXISTING CASH
RESOURCES UP
TO EUR 1.5 MILLION INTO JV, WITH BALANCE FUNDED BY GALEN

Source text for Eikon:  ID:nCNWqYdPGa 
Further company coverage:  IMCC.CD 

 ((Reuters Messaging: Reuters.Briefs@thomsonreuters.com))