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Home 🌿 Medical Cannabis News 🌿 Abba Medix Signs Letter of Intent to Acquire Redecan for $11,000,000 in Cash and Shares. 🌿News Categories
Abba Medix Signs Letter of Intent to Acquire Redecan for $11,000,000 in Cash and Shares.
TORONTO, ONTARIO--(Marketwired - April 6, 2015) - Abba Medix Corp., ("Abba Medix", a wholly-owned subsidiary of Saratoga Electronic Solutions Inc., "Saratoga", or the "Company") (CSE:ABA) is pleased to report that it has entered into a Letter of Intent with 9037136 Canada Inc., operating and known as Redecan Pharm ("Redecan"), a Health Canada licensed producer and distributor of medical marijuana.
Redecan is focused on developing premium quality medical marijuana products and is a licensed producer and seller, able to cultivate marijuana under the Marihuana for Medical Purposes Regulations ("MMPR") in Canada.
The principal focus of Redecan is the production of marijuana from its fully-secured, 15,000 square foot greenhouse production facility in Niagara, Ontario. Redecan obtained a medical marijuana license to undertake the production of medical marijuana in July 2014, and in March 2015 was awarded its sales license. Abba Medix and Redecan shall review, count, and determine the value of Redecan's...
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