Cellular Goods PLC - London-based skin care and wellness company providing premium consumer products formulated with biosynthetic and lab-produced cannabinoids - Completes the acquisition of King Tide Carbon PTE Ltd. Deal is to be satisfied by the issue of 95 million shares to the sole shareholder of King Tide, Matthew Lodge. Further, grants Lodge a warrant over 5 million shares at an exercise price of 0.97 pence each. Explains one third of the warrants vest on May 5, 2024, with the remaining two thirds vesting in 24 equal monthly instalments thereafter. Points out the acquisition has no revenue currently but is forecast to generate revenue by the end of the year.
Current stock price: 0.59 pence, down 5.0%
12-month change: down 72%
By Jeremy Cutler, Alliance News reporter
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