Creso Pharma to be acquired by Canadian listed PharmaCielo for AU$122m
ASX-listed Creso Pharma has announced it has entered into a definitive agreement with Canadian TSX Venture Exchange-listed cannabis company PharmaCielo Limited enabling it to acquire Creso for AU$122m or AU$0.63 per share.
PharmaCielo is the Canadian parent of Colombian cultivator and producer of medicinal cannabis oil PharmaCielo Colombia Holdings S.A.S, the largest cannabis producer in Colombia, and a fully licensed producer of medicinal cannabis oil products in Colombia.
Creso shareholders will receive 0.0185 PharmaCielo shares for each Creso Pharma listed option held representing a value of AU$0.15 each.
The Creso Pharma Board of Directors unanimously recommend shareholders and listed option holders vote in favour of the Share Scheme and the Option Scheme respectively, in the absence of a superior proposal and subject to an Independent Expert report.
See more in Tuesday’s Pharmacy Daily.
