Change in the ownership of shares in MEDICANCOIN GREECE S.A. as a stage of implementation of the strategy targeted at ensuring the Issuer long-term revenues related to the exclusive right to distribute THC-containing products in the territory of the country after the start of production by MEDICANCOIN GREECE S.A.
The Issuer's Management Board informs that as part of the implementation of the Company's development strategy targeted at ensuring the Issuer long-term revenues, it is at the final stage of negotiations with MEDICANCOIN GREECE S.A. about the cooperation between companies providing the Issuer with future revenues related to the right to distribute products containing THC manufactured by MEDICANCOIN GREECE S.A.
At the same time, the Management Board informs that due to the nature of the activities of MEDICANCOIN GREECE S.A. (cultivation of medical marijuana and production of medical marijuana products with THC, and not only with CBD) and legislative discrepancies between Greece and Poland, the Issuer's shareholding in MEDICANCOIN GREECE S.A. was reduced by selling 8,750 shares with a nominal value of EUR 8,750 for the price of EUR 135,600 (in words: one hundred thirty five thousand six hundred euro). The transaction was approved by the Issuer's Management Board and the Management Board of MEDICANCOIN GREECE S.A. on September 30, 2021. It’s result is to organize the legal and ownership status in a way that allows legal trade in accordance with local and international law - regulating the trade in psychoactive substances.
The Issuer's Management Board will inform about the terms of the agreement establishing the right to distribute products containing THC produced by MEDICANCOIN GREECE S.A. in a relevant message.
Information is important and is of fundamental importance in the Issuer's development strategy.
