Connect with us

BIOTECH

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

Published

on

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.

Advertisement src="//cdn.bannersnack.com/iframe/embed.js">
Advertisement
Advertisement

Title

INDUSTRIAL HEMP3 months ago

Near-Term Headwinds Hit Scotts Miracle-Gro Co (NYSE:SMG) With A Huge Impact

Bank of America Corp (NYSE:BAC) has disclosed that Scotts Miracle-Gro Co (NYSE:SMG) has lately been experiencing several near term risks....

INDUSTRIAL HEMP3 months ago

Argitek Holdings Inc (OTCMKTS:AGTK) To Focus On Acquisition, Revenues & Profitability In 2018

Argitek Holdings Inc (OTCMKTS:AGTK) recently revealed that in 2018, the company’s main focus will be the acquisition, revenues, and profitability....

INDUSTRIAL HEMP3 months ago

PharmaCyte Biotech Inc (OTCMKTS:PMCB) Completes Pore Size Studies & 29 Tests Useful In Pancreatic Cancer Therapy

PharmaCyte Biotech Inc (OTCMKTS:PMCB) has said that the cells it is planning to use in the clinical trial in patients...

INDUSTRIAL HEMP3 months ago

Puration Inc (OTCMKTS:PURA) To Apply For Canadian Recreational Cannabis Cultivation License; To Give EVERx CBD Sports Water Free Samples

Puration Inc (OTCMKTS:PURA) recently announced that it will be applying for the Canadian recreational cannabis cultivation license. The confirmation came...

INDUSTRIAL HEMP3 months ago

Marijuana Company Of America Inc (OTCMKTS:MCOA)’s JV Completes 10,000 Sq. Ft. Greenhouse Set up; Provides Update on Oregon Project

Marijuana Company Of America Inc (OTCMKTS:MCOA) recently announced that its Joint Venture with Bougainville Ventures Inc. based in Washington has...

INDUSTRIAL HEMP3 months ago

Lifestyle Delivery Systems Inc.(OTCMKTS:LDSYF)’s CSPA Group Inc. Receives 15000 Reveur Units & 300 Liters Distillates’ Purchase Orders In Two Different Deals

Lifestyle Delivery Systems Inc. (OTCMKTS:LDSYF) recently made two big announcements related to the receipt of two open purchase orders to...

INDUSTRIAL HEMP3 months ago

Viaderma Inc (OTCMKTS:VDRM) Provides Update On Its Flagship Product Vitastem; Signs $250,000 Agreement With Vage Nigeria Ltd.

Viaderma Inc (OTCMKTS:VDRM), a publicly traded specialty pharmaceutical company recently announced an update on the sales of its flagship product...

INDUSTRIAL HEMP3 months ago

Plandai Biotechnology Inc (OTCMKTS:PLPL) Phytofare Gaining Traction in International Markets

Plandai Biotechnology Inc (OTCMKTS:PLPL) recently issued an update following the successful launch of its Phytofare® supplement. Plandai Biotechnology is a...

INDUSTRIAL HEMP3 months ago

MassRoots Inc (OTCMKTS:MSRT) Issues 2018 Annual Shareholder Letter

MassRoots Inc (OTCMKTS:MSRT) has issued its 2018 Annual Shareholder Letter highlighting on its recent developments as well as its plans...

INDUSTRIAL HEMP3 months ago

Players Network (OTCMKTS:PNTV) Signs Binding Letter Of Intent To Acquire A 56,000-Square-Foot, Fully Operating Greenhouse Complex

Players Network (OTCMKTS:PNTV), a leading integrated and diversified cannabis holding company has announced that it has signed a binding Letter...

Advertisement
Advertisement
Advertisement