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What Is The Buzz Surrounding MPX BIOCEUTICAL CO (OTCMKTS:MPXEF)?

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MPX BIOCEUTICAL CO (OTCMKTS:MPXEF) reported that the firm, via its indirect 100% owned subsidiary unit, S8 Management, LLC, is entering into management deals with Rosebud Organics, Inc., which is allowed to purchase, sell and process medical cannabis items in Maryland, as well as with Budding Rose, Inc., which is authorized to run a dispensary and sell medicinal cannabis offerings in Maryland.

The buzz

Pursuant to the reported management deals, S8 Management will offer all management services usually required by a production hub, in the instance of Rosebud, and a dispensary center, in the event of Budding Rose. Management services comprise, but are not confined to, all staffing, equipment, materials, accounting, logistical support and other administrative activities, advisory services, contractor selection and any other requirements needed to the successful operation of Budding Rose and Rosebud.

Besides managing the facilities, MPX, through its 100%-owned subsidiary unit, CGX Life Sciences, Inc. will concurrently get options to buy 100% of the issued and due common stock of Rosebud for total consideration of around US$3.01 million and Budding Rose for total consideration of around US$2.481 million.

The options are exercisable for a period of 2 years. As per the update, the exercise price of Rosebud will be constituted of a cash payment of around US$2.2 million with the remainder of the deal price met by the issuance of around 1.329 million common shares in the capital of the firm at a price of $0.77 a MPX Share.

The exercise price of Budding Rose will be constituted of a cash payment of around US$1.8 million with the remainder of the deal price satisfied by the release of around 1.108 million MPX Shares priced for $0.77 a MPX Share. Alongside with finalizing the option agreements and the management agreements to acquire the Budding Rose and Rosebud options, CGX will offer secured loans to the sellers.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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