Toronto-based Khiron Life Sciences has inked a binding letter agreement to acquire Vancouver-based NettaGrowth International in an all-stock deal valued at ~$13.7M. Specifically, it will issue 8,498,821 common shares valued at $1.61 per share.
NettaGro owns Dormul S.A., the owner of the first license in Uruguay to produce medical cannabis there. It is apparently capable of cultivating up to 120 tons and 170K plants.
Khiron says it will be able to export medical weed from Uruguay to Southern Brazil under the Mercosur trade bloc.
Date: January 28, 2019
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Source: Seeking Alpha
