Brief: Pharmacielo Establishes Joint Venture With Mino Labs To Bring Medicinal Cannabis Oil To Mexico

Pharmacielo

28/01/2019 11:59

Jan 28 (Reuters) - Pharmacielo Ltd  PCLO.V :
    * PHARMACIELO ESTABLISHES JOINT VENTURE WITH MINO LABS TO
BRING
MEDICINAL CANNABIS OIL TO MEXICO
    * PHARMACIELO LTD - CANNABIS OIL DELIVERY UNDER JV TO
MEXICAN
MARKET IS EXPECTED TO COMMENCE IN Q4 2019
    * PHARMACIELO LTD - JV IS CALLED PHARMACIELO S.A. DE C.V.
    * PHARMACIELO LTD - PHARMACIELO MEXICO IS OWNED EQUALLY BY
PHARMACIELO AND MINO LABS
    * PHARMACIELO LTD - JV BOARD TO BE COMPRISED OF THREE
DIRECTORS
NOMINATED BY PHARMACIELO AND THREE DIRECTORS NOMINATED BY MINO
LABS
    * PHARMACIELO LTD - PHARMACIELO AND MINO LABS ARE REQUIRED
TO
DEVELOP IN GOOD FAITH BUSINESS PLAN WITHIN 90 DAYS & SUBMIT IT
TO JV BOARD FOR APPROVAL
    * PHARMACIELO LTD - PHARMACIELO & MINO LABS HAVE ALSO
ENTERED INTO
A NON-COMPETITION AGREEMENT NOT TO COMPETE WITH JV IN MEXICO
    * PHARMACIELO LTD - BUSINESS OF JV TO INCLUDE SALES,
DISTRIBUTION,
MARKETING, RESEARCH, & PRODUCT DEVELOPMENT OF MEDICINAL CANNABIS
PRODUCTS IN MEXICO

Source text for Eikon:  ID:nCNW5RV11a 
Further company coverage:  PCLO.V 

 ((Reuters.Briefs@thomsonreuters.com;))