$CURR 1.8901 (+5.01%) CURE Pharmaceutical Announce
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Posted On: 06/18/2020 1:29:10 PM
$CURR 1.8901 (+5.01%) CURE Pharmaceutical Announces Exercise of Warrants for Cash Proceeds of Approximately $1.4 Million and Completes Earn Out Related to 2019 Acquisition
OXNARD, Calif., June 09, 2020 (GLOBE NEWSWIRE) -- CURE Pharmaceutical Holding Corp. (CURR), an innovative drug delivery company that is developing novel ways to deliver active ingredients, announced today that it strengthened its balance sheet with the receipt of $1.4 million in cash from the exercise of warrants to purchase 708,467 shares of CURE’s common stock held by certain stockholders of Chemistry Holdings, Inc. (Chemistry Holdings) at a reduced exercise price of $2.00 per share (which was 10 percent above the market price for CURE’s stock at closing). The warrant exercise is part of the completion of all earn-out arrangements and obligations related to CURE’s acquisition of Chemistry Holdings on May 14, 2019.
“This is a win/win for Chemistry Holdings and CURE stockholders,” said Rob Davidson, CEO of CURE. “With the acquisition of Chemistry Holdings, CURE obtained valuable proprietary formulation and dosage technology that expanded the CUREfilm™ platform with additional patents and know-how for improving drug absorption, efficacy, palatability, texture and portability. The ongoing integration of our resources has enhanced CURE’s research and development capabilities, which we expect will continue to lead to new product offerings and drive potential new revenue streams.
“This progress comes on the heels of other recent positive developments, including the news of our collaboration with PMI, a subsidiary of Mexico-based Factoria Bogar, that encompasses a distribution arrangement for CURE’s wellness products in Mexico, and work on formulations that leverage the CUREform™ novel delivery platform for treatment of multiple GI indications using PMI’s proprietary prebiotic product from agave in combination with CBD,” Davidson concluded.
https://finance.yahoo.com/news/cure-pharmaceu...20168.html
OXNARD, Calif., June 09, 2020 (GLOBE NEWSWIRE) -- CURE Pharmaceutical Holding Corp. (CURR), an innovative drug delivery company that is developing novel ways to deliver active ingredients, announced today that it strengthened its balance sheet with the receipt of $1.4 million in cash from the exercise of warrants to purchase 708,467 shares of CURE’s common stock held by certain stockholders of Chemistry Holdings, Inc. (Chemistry Holdings) at a reduced exercise price of $2.00 per share (which was 10 percent above the market price for CURE’s stock at closing). The warrant exercise is part of the completion of all earn-out arrangements and obligations related to CURE’s acquisition of Chemistry Holdings on May 14, 2019.
“This is a win/win for Chemistry Holdings and CURE stockholders,” said Rob Davidson, CEO of CURE. “With the acquisition of Chemistry Holdings, CURE obtained valuable proprietary formulation and dosage technology that expanded the CUREfilm™ platform with additional patents and know-how for improving drug absorption, efficacy, palatability, texture and portability. The ongoing integration of our resources has enhanced CURE’s research and development capabilities, which we expect will continue to lead to new product offerings and drive potential new revenue streams.
“This progress comes on the heels of other recent positive developments, including the news of our collaboration with PMI, a subsidiary of Mexico-based Factoria Bogar, that encompasses a distribution arrangement for CURE’s wellness products in Mexico, and work on formulations that leverage the CUREform™ novel delivery platform for treatment of multiple GI indications using PMI’s proprietary prebiotic product from agave in combination with CBD,” Davidson concluded.
https://finance.yahoo.com/news/cure-pharmaceu...20168.html
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