CANNIGISTICS ENTERS INTO MEMORANDUM OF UNDERSTANDING TO IMPLEMENT SOFTWARE PLATFORM

Calyx Bio-Ventures Inc.’s wholly owned subsidiary Cannigistics Agri-Solutions Corp. has entered into a memorandum of understanding with a third party with respect to the implementation of its software platform.

The MOU, which has been signed with a well-financed Canadian company that is in the advanced stages of a review for a licence from Health Canada under MMPR, creates the framework under which Cannigistics’s software and information technology will be integrated with various elements of the third party’s operations, thus enhancing its current capabilities.

“We are excited to have entered into our first agreement with a downstream user in this space,” said Roger Forde, president and chief executive officer of Cannigistics. “This validates the strategy that Cannigistics has established to provide technology solutions, addressing key requirements of companies operating in this sector. We are looking forward to a long and mutually beneficial commercial relationship from this MOU.”

Further to the company’s press release of Sept. 19, 2014, the company is undertaking a non-brokered private placement of up to six million common shares of Calyx at a price of five cents per Calyx share for cash proceeds of up to $300,000. The company expects that it may pay a cash finder’s fee of up to 7 per cent and issue finder warrants of up to 5 per cent of the number of Calyx shares placed, on all or a portion of the private placement. Any finder warrants issued will enable the holder to purchase one Calyx share for a period of one year at a price of 15 cents. The funds raised from the issuance of the Calyx shares will be for general working capital and corporate development purposes.

  • RSS caliche’s RSS Feed

  • oroco
  • January 2015
    M T W T F S S
     1234
    567891011
    12131415161718
    19202122232425
    262728293031  
  • Stockhouse Feed

  • %d bloggers like this: