- PreveCeutical Medical Inc. enters into a joint venture agreement with Asterion Cannabis Inc. to develop several nature-based cannabinoid products; the products will help the company respond to the demands for personalized and effective cannabis therapies
- The development agreement will see Asterion inject funds at cost, while PreveCeutical will contribute by way of opening its research resources, including personnel for use in the project
- The percentage ownership of intellectual and product rights from the agreement will be shared between Asterion and PreveCeutical in the ratio of 80 percent to 20 percent
- Since the agreement involves related parties including current and former directors at PreveCeutical and executive officers, it is categorized under Multilateral Instrument 61-101 as a related party transaction
PreveCeutical Medical Inc. (CSE: PREV) (OTCQB: PRVCF) (FSE: 18H) signed a development agreement with Asterion to enter into a joint venture that will see the two companies develop several medicinal cannabinoid products. The products will comprise high quality transdermal patches, sublingual tablets and others that the companies will jointly evaluate.
According to the CEOs of both companies, Stephen Van Deventer of PreveCeutical and Paget Hargreaves of Asterion, the joint venture will help them advance their missions and goals. The two firms are focused on…
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