Brief: Scythian Biosciences To Acquire Company With Exclusive Medical Cannabis License In Florida

SOL Global Investments

30/07/2018 14:25

July 30 (Reuters) - Scythian Biosciences Corp  SCYB.V :
    * SCYTHIAN BIOSCIENCES TO ACQUIRE COMPANY WITH EXCLUSIVE
MEDICAL
CANNABIS LICENSE IN FLORIDA
    * SCYTHIAN BIOSCIENCES CORP - WILL INITIALLY PURCHASE 70% OF
CANNCURE AND HAVE AN OPTION TO ACQUIRE REMAINING 30%, ALL AT
SAME VALUATION
    * SCYTHIAN BIOSCIENCES CORP - SIGNED AN ARM'S LENGTH LETTER
OF
INTENT EFFECTIVE JULY 26, 2018 TO ACQUIRE CANNCURE INVESTMENTS
INC
    * SCYTHIAN BIOSCIENCES - FIRST 70% TO BE ACQUIRED FOR $93.3
MILLION IN EQUITY AND $43.2 MILLION CASH TO BE INVESTED INTO
CANNCURE BY WAY OF DEBT OR EQUITY
    * SCYTHIAN BIOSCIENCES CORP - INTENDS TO USE PROCEEDS FROM
APHRIA
TRANSACTION TO PAY CASH COMPONENT OF ACQUISITION
    * SCYTHIAN BIOSCIENCES CORP -  EQUITY TO BE PAID IN SCYTHIAN
COMMON SHARES, ISSUED TO SHAREHOLDERS OF CANNCURE
    * SCYTHIAN BIOSCIENCES CORP - RECEIVED CONDITIONAL APPROVAL
TO
LIST ITS COMMON SHARES ON CANADIAN SECURITIES EXCHANGE
    * SCYTHIAN BIOSCIENCES CORP - INTENDS TO VOLUNTARILY DELIST
ITS
COMMON SHARES FROM TRADING ON TSX VENTURE EXCHANGE
    * SCYTHIAN BIOSCIENCES CORP - HAS ANNOUNCED IT WILL
VOLUNTARILY
WITHDRAW ITS APPLICATION TO LIST ITS SHARES ON NASDAQ STOCK
MARKET LLC

Source text for Eikon:  ID:nGNX2QrjZB 
Further company coverage:  SCYB.V 

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