Under the terms of the letter of intent, Lophos Pharma intends to acquire all assets of the cactus cultivation business, including:
- All Live Lophophora Williamsii (peyote) plants (QTY: 592) (AGE: 3 – 23 YEARS)
- Lophophora Williamsii (peyote) seeds (QTY: 51,073)
- Cultivation Racks
- Fluorescent Grow Lights
- Outdoor Greenhouse
- Web Domain: MAGICACTUS.COM
- All customer information and data related to the business, including over 1,000 active customers.
- All intellectual property rights related to the business, including but not limited to patents, trademarks, copyrights, trade secrets, and any other proprietary rights owned or used by the Seller in connection with the operation of the business.
As consideration for the acquisition of the assets, Lophos intends to pay to the vendor
Comments From Leadership
"This letter of intent marks a significant milestone in our journey toward acquiring the assets of Magicactus.com," stated
Expanding on the significance of the acquisition,
Mr.
About Magicactus.com
In 2007,
For further inquiries, please contact:
Email: invest@lophos.com
Website: www.lophos.com
Phone: 1-833-450-7407
Cautionary Statement:
Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.
The execution of a definitive purchase agreement and the closing of the acquisition are subject to customary conditions, including regulatory approvals and the completion of due diligence. There can be no assurance that the transaction will be completed as proposed or at all.
The Agreement remains subject to the approval of the Canadian Securities Exchange. All securities issued pursuant to the Agreement will be subject to a four month and one day hold period upon issuance.
This press release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Lophos' current belief or assumptions as to the outcome and timing of such future events. Forward-looking information in this press release includes information with respect to the Company’s peyote cactus product development. Forward-looking information is based on reasonable assumptions that have been made by Lophos at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and Lophos is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking information contained herein. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risk Factors” in Lophos' final long form prospectus dated
This news release does not constitute an offer to sell or the solicitation of an offer to buy, and shall not constitute an offer, solicitation or sale in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction.
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