Elixinol (ASX:EXL) to acquire 100% of Germany-based CannaCare Health, shares go green

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Elixinol (ASX:EXL) to acquire 100% of Germany-based CannaCare Health, shares go green

Elixinol Global Limited's share price (ASX:EXL) was significantly in green as the Company announced on Monday that it has entered into a binding agreement for its subsidiary (Elixinol B.V.) to acquire all of the share capital of Germany-based CannaCare Health GmbH.

Key details:

  • The purchase price for the proposed transaction will be paid in two tranches. 
  • The performance securities convert into shares subject to the amount of revenue that CannaCare achieves in FY2021. 
  • The maximum number of shares that can be issued on conversion of the performance securities in 165,180,893. 

Meanwhile, the stock's share price was quoted at A$0.220 per share, up 12.820% at 2:12 PM AEDT. 

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