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If I am reading the release correctly, Global Hemp have the option to buy Apollon in an all share transaction.
It appears we will become Global Hemp Group shareholders. Now trying to work out if this is a good deal or if we have been sold down the river!
https://www.globalhempgroup.com/jan-11-2023-ghg-executes-binding-loi-with-apollon-formularies
Apollon Formularies enters binding agreement which could lead to sale of all assets............
https://www.proactiveinvestors.co.uk/companies/news/1003069/apollon-formularies-enters-binding-agreement-which-could-lead-to-sale-of-all-assets-1003069.html
intangible property that is the result of creativity, such as patents, copyrights, etc.
In return, Global Hemp, a Canadian hemp harvester, will receive an exclusive licence to four Apollon patents in North America with supporting third-party test data, with a licensing agreement to be executed in the coming days.
https://www.proactiveinvestors.co.uk/companies/news/944824/apollon-formularies-federally-licensed-jamaican-medical-cannabis-specialist-brings-a-scientific-focus-to-the-sector-944824.html
Up 50% today........................
Global Hemp Group Inc
$0.015
50.00%
+0.0050 Today
Jan 12, 4:50:10 AM UTC-5 · CAD · CNSX · Disclaimer
https://www.google.com/finance/quote/GHG:CNSX
GHG will acquire the exclusive perpetual license to the following patents (including any continuations, divisional and continuations-in-part) and any associated preclinical and clinical data relating to the patents. The patents are registered under the International Patent System (PCT) and are also registered in Jamaica. This exclusive perpetual license will cover Canada, the United States and Mexico, for the four patents below and all associated supporting data:
Compositions and Methods for Treatment of Cancers;
Compositions and Methods for Treatment of Inflammation;
Methods for Treatment of Human Cancers Using Cannabis Compositions;
Methods for Treatment of Human Cancers Using Mushroom Compositions;
BIOENSIS Preclinical Data reflecting independent 3D cell culture testing of cannabis and mushroom formulations included in the patent applications.
https://www.investorideas.com/news/2023/cannabis/01111CSE-GHG.asp
GHG will have the exclusive option to acquire all the assets of Apollon other than cash, cash equivalents, and receivables, for a payment of 771,191,266 GHG common shares.
Presumably the cash will be returned to shareholders ???
Think I just saw a pig fly over the house
I don't think you have read the RNS correctly. My understanding is that the company will be taken over after due diligence and we then become shareholders in GHC.
Yes Opti but what about the cash?
https://www.youtube.com/watch?app=desktop&v=seL74WmFDSE&ab_channel=GlobalOneMedia
Global Hemp Group (CSE: GHG | OTC: GBHPF | FRA: GHG) President and CEO Curt Huber and Special Medical Advisor Dr. Stephen Barnhill joins Global One Media to lay out the brand new frontiers the company looks to surpass year, including the recent groundbreaking deal reached with Apollon Formularies PLC that is opening a new direction for GHG into medical innovation.
Dr. Barnhill, the research pioneer behind Apollon, discusses the exciting possibilities presented by natural biologics for effective treatments including in anti-cancer applications as well as the operational framework to carry out the program. Huber also outlines positive prospects for the company's valuation over the course of the venture.
The cash will be paid as shares if the deal goes ahead.
I hope you are right . Time will tell. "smiley face"