Mercury Acquisitions Corp. (TSXV:MERC) announced Thursday its subsidiary 2868303 Ontario Inc., also known as Mercury Subco will amalgamate with Franchise Cannabis Corp. to finalize the company’s qualifying transaction in relation to the policies of the TSX Venture Exchange.
Under the amalgamation agreements, the combined corporation (Amalco) will be a wholly-owned subsidiary of Mercury, which will be renamed to Franchise Global Health Inc. upon the completion of the combination. At the same time, the corporate name of Amalco will be Franchise Cannabis Corp.
The Transaction is subject to the receipt of all necessary regulatory and shareholder approvals, including approval of the TSXV, as well as the satisfaction of conditions to closing as set out in the agreement.
The resulting issuer plant to continue to ran Franchise’s business in the medical cannabis and pharmaceutical industries and be listed on the TSXV.
About Franchise: Franchise is a multi-national operator in the medical cannabis and pharmaceutical industries, with core operations in Germany and with operations, assets, strategic partnerships and investments internationally, including Canada, Denmark, Colombia, St. Vincent and the Grenadines, and Portugal.
The company aims to develop a fully integrated, leading European medical cannabis business, with the goal of providing high-quality pharmaceutical-grade medical cannabis to distribution partners and, ultimately, to patients, at competitive prices.
What’s more, Franchise has also entered into an agreement to acquire Phatebo GmbH, which is focused on wholesale pharmaceutical distribution through import and export capabilities of a wide range of pharmaceutical and medical cannabis products to treat a variety of health indications, including drugs related to cancer therapies, ADHD, multiple sclerosis and anti-depressants, among others. Phatebo conducts its business of distributing pharmaceutical products within 18 countries globally, primarily in Europe, but also with sales to Asia, Latin America and North America
Photo: Courtesy of CRYSTALWEED cannabis on Unsplash
