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Ethema Signs LOI to Acquire Stake in IC Pharma.

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Vincent

MANews-(C)2009-2019

29 May 2019 - US-based healthcare services provider Ethema Health Corp. (OTCQB: GRST) has agreed to a letter of intent to purchase an interest in IC Pharma, LLC and its group of companies, the company said.

IC Pharma has offices in Auburn Hills, Michigan, and specialises in the extraction, processing, and bottling of extracts from natural plants such as coffee, industrial hemp, and kratom.

IC Pharma has developed advanced manufacturing equipment and processes that make their production efficient, economical and highly scalable. IC Pharma group's products are sold through distributors and retailers and will generate sales at retail of approximately USD 50m per year with a 30% growth rate.

The agreement is subject to standard due diligence and will require a formal agreement and a valuation to support the purchase price.

The agreement with IC Pharma will be beneficial to the company for two reasons. The first is that it gives the company the exclusive right to the use of certain products relevant to addiction treatment for opioid withdrawal. The second is that IC Pharma is a rapidly growing company that is generating significant revenue and profits and will bring great value to the company.

Ethema Health Corp. (OTCQB: GRST) operates in the behavioural...

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