- Global Hemp (GHG) has made the final US$150,000 payment to exclusively license Apollon Formularies’ patents and IP
- Apollon is a U.K.-based international pharmaceutical company developing cancer treatments from natural biologics
- Global Hemp is in discussions with potential partners in the U.S. and Canada to sublicense the IP
- CEO Stephen Barnhill spoke with Brieanna McCutcheon about the news
- Global Hemp Group develops environmentally friendly hemp-based products, including construction materials, nanofertilizers and enhanced cannabinoid extraction methods
- Global Hemp (GHG) is unchanged trading at $0.01 per share
Global Hemp (GHG) has made the final payment to license Apollon Formularies’ patents and IP.
Apollon is a U.K.-based international pharmaceutical company developing cancer treatments from natural biologics, including cannabinoids, functional mushrooms and psychedelic mushrooms.
Apollon’s formulations have demonstrated significant success in independent, third-party pre-clinical testing.
The US$150,000 payment completes contractual obligations relating to the first stage of the binding letter of intent and exclusive licensing agreement. Global Hemp signed a US$150,000 unsecured loan agreement at arm’s length on April 3, 2023. It bears interest at 12 per cent per annum and is due by July 31, 2023.
Global Hemp will acquire the exclusive right to Apollon’s patents and IP for the U.S., Canada, Mexico, the E.U., Morocco and Israel. The company is in discussions with manufacturers, distributors and retailers in the U.S. and Canada to sublicense the IP.
Global Hemp must complete due diligence and exercise its option to acquire Apollon’s assets by April 28, 2023.
CEO Stephen Barnhill spoke with Brieanna McCutcheon about the news.
Global Hemp Group develops environmentally friendly hemp-based products, including construction materials, nanofertilizers and enhanced cannabinoid extraction methods.
Global Hemp (GHG) is unchanged trading at $0.01 per share.
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