Apollon Formularies PLC - London-based medical cannabis pharmaceutical firm - Says concludes due diligence with Sproutly Canada, a supplier of proprietary cannabis ingredients focused on supplying natural water soluble and oil ingredients for Cannabis 2.0 products for the beverage and consumables market. Pending approvals, Sproutly is set to buy all global assets of Apollon. The effective valuation of the sale of Apollon's assets will be CAD7 million, around GBP4.2 million. Sproutly Chief Executive Officer Arup Sen says: "This progress reflects our shared commitment to efficiency and diligence in navigating this transformative transaction. The integration of Apollon's cutting-edge AI-based therapeutic formulations development and Sproutly's aqueous phytorecovery processtechnology to produce water soluble phytonutrients presents a unique opportunity. This collaboration signifies not just a milestone but a commitment to global innovation and diversification of our product portfolio."
Current stock price: 0.20 pence, up 80% on Tuesday
12-month change: down 78%
By Tom Budszus, Alliance News slot editor
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