02:22:34 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Kaneh Bosm Biotechnology Inc (2)
Symbol KBB
Shares Issued 96,219,108
Close 2018-06-26 C$ 0.55
Market Cap C$ 52,920,509
Recent Sedar Documents

Kaneh Bosm enters definitive deal for Marathon buy

2018-06-26 20:12 ET - News Release

Mr. Michael Martinz reports

KANEH BOSM BIOTECHNOLOGY CONSOLIDATES DISTRIBUTION CAPACITY AFTER ADDING CULTIVATION ABILITY

Kaneh Bosm Biotechnology Inc. has entered into a definitive agreement with Marathon Global Inc. to acquire the remaining 50 per cent of Marathon that it does not already own.

Marathon has an exclusive agreement with Cosmos Holdings Inc. ("Cosmos"), a European based pharmaceutical distributor, to procure and distribute medical cannabis products and all cannabis derivatives for clients of Cosmos in approved countries within its distribution network of 110 clients, representing approximately 35,000 pharmacies in 16 countries.

This relationship brings an unparalleled ability to supply the overwhelming demand for cannabis and cannabis extracts in Europe as Cosmos brings generations worth of experience and relationships to Kaneh Bosm.

The company sees a unique marriage between its access to 35,000 pharmacies in Europe, Kaneh Bosm's anticipated production from its recently announced acquisitions in Lesotho and Colombia, Marathon's integrated Canadian LP suppliers, and its agreements on the ADM retail system which already has several thousand units operating across Western Europe, many in retail pharmaceutical settings.

The Company continues to further identify synergy internally to maximize the cross-pollination between the Company's divisions.

Under the terms of the Agreement, the Company will pay $1-million and it will issue 15 million shares. A finder's fee as per regulatory guidelines will also be payable on this transaction.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.