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BRIEF-Cannimed to acquire UP Cannabis Inc
November 17, 2017 / 9:54 PM / a month ago

BRIEF-Cannimed to acquire UP Cannabis Inc

Nov 17 (Reuters) - Cannimed Therapeutics Inc

* Cannimed to acquire UP Cannabis Inc. (Newstrike Resources Ltd. – TSx-v:HIP) to create a premier global cannabis company

* Cannimed Therapeutics Inc - ‍deal expected to be accretive (before synergies) on key metrics by 2019​

* Cannimed Therapeutics - as per agreement, newstrike shareholders will be entitled to receive 0.033 shares of co for each Newstrike common share held​

* Cannimed - current cannimed shareholders will own in aggregate about 65 per cent of combined entity

* Cannimed - Newstrike shareholders will in aggregate own about 35 per cent of combined entity​

* Cannimed Therapeutics - parties are subject to payment of termination fee of C$5 million by newstrike to co or C$9.5 million by co to newstrike​ Source text for Eikon: Further company coverage:

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