Relevium Technologies Inc. has agreed to acquire a 25% equity stake in CannaKids, a medical cannabis developer for pediatric and adult applications, along with an exclusive license for the Canadian market, in a US$2.7 million deal.
Montreal-based Relevium Technologies will issue 11,136,000 shares worth US$1.2 million at deal closing, plus five quarterly cash payments of US$300,000. The transaction is subject to approval by the TSX Venture Exchange.
CannaKids produces cannabis oil extracts for patients of all ages; maintains a patient database; and has a network of dosing experts, nursing staff, medical doctors and researchers in the U.S. and Israel. The company conducts research in the areas of cancer, autism and epilepsy, among other applications.
Relevium Technologies, a healthcare equipment company, engages in identifying, evaluating and acquiring assets or businesses in the health and wellness markets.