EuroLife to Acquire Stake in One of Europe’s Largest Hemp Cultivation Projects

Toronto, Ontario–(Newsfile Corp. – November 22, 2019) – EuroLife Brands (CSE: EURO) (FSE: 3CMA) (OTC Pink: EURPF) (“EuroLife” or the “Company”), a leading global markets cannabis brand empowering the medical, adult-use and CPG cannabis industry, is pleased to announce that it has entered into a Binding Letter of Intent (the “LOI”) whereby EuroLife has been granted a participation right in a state-of-the-art industrial hemp cultivation operation located near Dresden, Germany. By virtue of an assignment agreement, EuroLife has gained the right to purchase 20% of a to-be-formed German corporate entity (“German HempCo”) of which the assets will consist of the Dresden hemp cultivation complex located near Dresden, Germany. It is envisioned that German HempCo will be the domicile for the Dresden hemp cultivation project in its entirety thus leveraging the robust existing infrastructure and thereby amplifying EuroLife’s entry into the European Union (EU) hemp and CBD theatre. As per the terms of the LOI, the following assets will be contributed to German HempCo, thereby making it one of the largest fully operational outdoor hemp cultivation projects in Europe: More than 500 hectares (1,235 acres) of prime agricultural land available for hemp cultivation near Dresden, Germany; Scalability via option agreement to approximately 2,000…

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Source : CANNANNEW REPORT
Link to original : EuroLife to Acquire Stake in One of Europe’s Largest Hemp Cultivation Projects
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