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.
- 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.