Argent BioPharma has signed a binding agreement with AusCann Group Holdings to acquire its 48% interest in CannPal Animal Therapeutics, an animal health company focused on cannabinoid-based treatments.
Under the revised deal, Argent agreed to a $2 million share-based transaction, issuing 20 million shares at a price of 10 cents per share, subject to shareholder approval. The shares will be subject to a voluntary escrow period of three months.
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