Cobbe v Yeoman's Row Management Ltd

SciSparc will Deposit $1 million in Escrow for its Intention to Enter Into an Agreement to Acquire American Food Supplements and Cosmetics Brand

Retrieved on: 
Thursday, August 18, 2022
U.S. Securities and Exchange Commission, Documentation, Status epilepticus, Tourette syndrome, GLOBE, Good, Cobbe v Yeoman's Row Management Ltd, Private Securities Litigation Reform Act, SEC, Amazon (company), Cosmetics, THC, Annual report, Pain, Good manufacturing practice, Autism, Marketing, Agitation, Company, Acquisition, Alzheimer's disease, Central nervous system, GMP, CBD, LOI, Intention, Nasdaq, Advertising, TEL, Pharmaceutical industry

TEL AVIV, Israel, Aug. 18, 2022 (GLOBE NEWSWIRE) -- SciSparc Ltd. (Nasdaq: SPRC) (“Company” or “SciSparc”), a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders of the central nervous system, today announced that following the signing of a non-binding letter of intent (“LOI”) with Merhavit M.R.M Holding and Management Ltd (“M.R.M”) to acquire from it its rights to purchase a top-seller Amazon.com account and American food supplements and cosmetics brand and trademark (the “Brand”), the Company signed additional agreements with respect to its intention to acquire the Brand. As an indication of its intention to negotiate and enter into a definitive acquisition agreement, SciSparc has agreed to transfer $1.0 million to an escrow agent.

Key Points: 
  • As an indication of its intention to negotiate and enter into a definitive acquisition agreement, SciSparc has agreed to transfer $1.0 million to an escrow agent.
  • In the event of signing a binding definitive agreement to purchase the Brand, the $1.0 million will be used as part of the overall amount to be paid by Scisparc.
  • The Brand offers dozens of GMP (Good Manufacturing Practice) manufactured hemp-based, U.S. made, top-ranked products, including various food supplements for different purposes and cosmetics.
  • The management services would be provided by a company for which SciSparcs Chief Executive Officer and director serves as a director.

SciSparc Signs a Non- Binding Letter of Intent to Acquire American Food Supplements and Cosmetics Brand in Approximately $20 Million Deal

Retrieved on: 
Monday, August 15, 2022
U.S. Securities and Exchange Commission, Drink, Documentation, Exercise, Warrant, Status epilepticus, Tourette syndrome, Letter, GLOBE, Good, Cobbe v Yeoman's Row Management Ltd, Private Securities Litigation Reform Act, SEC, Amazon (company), Cosmetics, Hemp, Achievement, Intention, Knowledge, Research, Annual report, Pain, THC, Good manufacturing practice, Autism, Marketing, EBITDA, Agitation, Company, Food, Acquisition, Alzheimer's disease, Central nervous system, GMP, CBD, LOI, Grandview, Nasdaq, Advertising, TEL, Online shopping, Pharmaceutical industry, Security (finance)

TEL AVIV, Israel, Aug. 15, 2022 (GLOBE NEWSWIRE) -- SciSparc Ltd. (Nasdaq: SPRC) (“Company” or “SciSparc”), a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders of the central nervous system, today announced that it has signed a non-binding letter of intent (“LOI”) with Merhavit M.R.M Holding and Management Ltd (“M.R.M”), to acquire from it its rights to purchase, a top-seller Amazon.com account and American food supplements and cosmetics brand and trademark (the “Brand”).

Key Points: 
  • The Brand offers dozens of GMP (Good Manufacturing Practice) manufactured hemp-based, U.S. made, top-ranked products, including various food supplements for different purposes and cosmetics.
  • The management services would be provided by a company for which SciSparcs Chief Executive Officer and director serves as directors.
  • The distribution agreement would provide for the marketing and commercialization of the Brands products, through offline channels in the US.
  • SciSparc Ltd. is a specialty clinical-stage pharmaceutical company led by an experienced team of senior executives and scientists.