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Najla Guthrie

Auxly Cannabis Group Inc. (OTCQX: CBWTF) announced Thursday that it s selling KGK Science Inc. to Myconic Capital Corp. (NEO: MEDI). The Vancouver-based investment company agreed to purchase KGK for up to $16.5 million. Transaction Details: The sum Myconic has agreed to pay includes $12.5. Read More. Don t Miss Any Updates! News Directly in Your Inbox Subscribe to:

Myconic Capital To Purchase Auxly s KGK Science For Up To $16 5M

The Vancouver-based investment company agreed to purchase KGK for up to $16.5 million. Transaction Details: The sum Myconic has agreed to pay includes $12.5 million purchase price, $1.5 million payable if KGK achieves gross revenues of $8 million in any 12 months over the two years following the closing and $2.5 million credit against future KGK services to Auxly within the next 10 years. The purchase price consists of $1.5 million in cash payable on closing, $1 million in cash payable six months following the closing, and $10 million in Myconic shares valued at $1.55 per share and issued on the closing date of the transaction. The acquisition is scheduled to finalize on or around the week of June 7.

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