Cannabics Pharmaceuticals Inc., a leader in personalized cannabinoid medicine focused on cancer and its side effects, today announced that its partner, Eroll Grow Tech, has acquired the majority of shares in GRCR partners, which is publicly traded on the OTC market under the symbol GRCR, as announced yesterday.
According to the transaction agreement, Eroll Grow Tech Ltd. will merge its operational activities into GRCR. Cannabics Pharmaceuticals, which provided funds for the transaction, shall eventually receive 13.6% of the merged company, along with a Promissory Note of $350,000 debt owed by Seedo.
“Our involvement with Seedo is continuing to grow. We are glad to see the optimistic responses we are receiving in from both potential partners as well as the media to what we believe will revolutionize personalized medical marijuana,” said Eyal Barad, CEO of Cannabics Pharmaceuticals.
“We are also moving ahead with our vision as a part of the platform to build commercialized automated growing platforms to be able to guarantee stable, consistent pharmaceutical grade cannabis worldwide.”
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“Cannabics Pharmaceuticals will be a very active partner in the development of an automated platform for personalized medical cannabis home grow,” Zohar Levy, Seedo’s CEO, said: “We thank Cannabics Pharmaceuticals for their trust in our vision and in our company. We have now concluded our pre-order phase and will soon commence delivery.”
Date: September 24, 2018
Source: Cision
