Small medical pot companies plan to merge in $48 million stock deal

Small Canada-based marijuana producer FSD Pharma Inc. said late Monday it intends to acquire Therapix Biosciences Ltd. for $48 million in stock. FSD said that it has a license to cultivate medical marijuana in Canada and has been harvesting cannabis since last month, though the company did not disclose the quantity. MarketWatch was unable to immediately determine whether FSD sells medical pot directly to patients, as many other licensed marijuana producers in Canada do.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Source

Leave A Reply

Your email address will not be published.