EuroLife Brands (OTCMKTS:EURPF) has announced that is has commenced a due diligence assessment for a possible transaction. The transaction will see EuroLife’s cannabis education platform and related data analytics isolated into a different entity that will operate independently.
Formation of BioScience NewCo
The decision to pursue the transaction was arrived at through internal corporate review as well as discussions with EuroLife’s strategic advisors. The special purpose entity, BioScience NewCo, will act as a bridge between patient R&D, Cannabis education, and Pharmaceutical R&D opportunities in the European theatre.
Equally, there are plans of spinning off BioScience NewCo to EuroLife stockholders through a Plan of Arrangement as per the Business Corporations Act in the future. The company shall determine the stock dividend exchange ratio at a future date.
The Arrangement is supposed to offer more value to the EuroLife stockholders by unlocking the cannabis education platforms and associated data analytics. This is achievable through proper management, synergy capture as well as enhancing corporate structures. The company considers corporate structuring of its data analytic assets as a way of enhancing shareholder value through the eradication of disambiguation of assets. Equally, having stand-alone operations will enable flexibility in the pursuit of new business opportunities for each independent entity.
BioScience NewCo to pursue additional growth avenues
BioScience NewCo will focus on having more growth avenues besides the current operations of the Cannvas.Me cannabis platforms. Other growth avenues include partnerships with synergistic companies, funding, and formulations as well a carrying R&D on novel biopharmaceutical and nutraceutical products. Equally, the entity will focus on data capture and analytics for clinical studies as well as white label and licensing opportunities in the public and private sectors.
The current CEO of EuroLife Shawn Moniz, will lead BioScience NewCo. Shawn has a lot of sector experience in pharmaceutical as well as brand strategy marketplace. He has worked before for pharmaceutical companies such as Astellas, Abbvie, Novartis, and Astra Zeneca.
The anticipated transaction is, however, subject to finalization of the economic benefit analysis, regulatory approval, adequate funding as well as shareholder approval by at least two-thirds of EuroLife shareholders.
Business intelligence from Akerna Corp (NASDAQ:KERN) Says Liquor Sales are Up 10% Year-over-Year
Post Views: 364 Liquor sales are up 10% year-over-year according to business intelligence from Akerna Corp (NASDAQ:KERN). Red wine took...
Pyxis Tankers Inc. (NASDAQ:PXS) Announce Q1 2020 Financial Results Amid COVID-19 Uncertainties
Post Views: 205 Pyxis tankers Inc. (NASDAQ:PXS) has announced its unaudited financial results for the quarter that ended March 31,...
Innovative Industrial Properties Inc (NYSE:IIPR) Enters Into a Lease Amendment Agreement with Green Leaf
Post Views: 226 With pot being legalized in many countries, the market is likely to get even bigger. As a...
Liberty Leaf Holdings Ltd (OTCMKTS:LIBFD) Takes Over Nova Mentis Biotech Corp And Add Synergies To Its Cannabis Assets In The Wellness And Health Sector
Post Views: 230 Liberty Leaf Holdings Ltd (OTCMKTS:LIBFD) gained access to the psilocybin by acquiring Nova Mentis Biotech Corp. The...
Aleafia Health Inc (OTCMKTS:ALEAF) Begins Cultivation At Its Entire Niagara Facility And Provides Consistent Supplies for Health: Settles Disputes With Aphria
Post Views: 341 Aleafia Health Inc (OTCMKTS:ALEAF) will commence cultivation operations at its whole Niagara facility. It obtained a license...
Pure Capital Calls For Shareholders Meeting of Therapix Biosciences Ltd (NASDAQ:TRPX): Demands For Dismissal Of Board Members
Post Views: 274 Pure Capital called for an emergency meeting of investors of Therapix Biosciences Ltd (NASDAQ:TRPX) to discuss actions...