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PRESS RELEASE: EuroLife To Conduct Strategic Assessment for a Plan of Arrangement with its Cannabis Data and Technology Assets

| Quelle: Dow Jones Newsw... | Lesedauer etwa 6 min. | Text vorlesen Stop Pause Fortsetzen


DGAP-News: Eurolife Brands / Key word(s): Miscellaneous
EuroLife To Conduct Strategic Assessment for a Plan of Arrangement with its
Cannabis Data and Technology Assets
2019-12-03 / 06:32
The issuer is solely responsible for the content of this announcement.

Toronto, Ontario(Newsfile Corp. - December 3, 2019) - *EuroLife Brands
(CSE: EURO) (FSE: 3CMA) (OTC Pink: EURPF) ("EuroLife" or the "Company"),* a
vertically integrated enterprise focused on the pan European hemp,
cannabinoid, and heath & wellness sector, is pleased to announce that, based
on an internal corporate review and dialogue with the Company's strategic
advisors, it has begun a due diligence assessment for a potential
transaction whereby the Company's cannabis education platforms and
associated data analytics assets would be siloed into a special purpose
entity ("BioScience NewCo") that would be operated as a stand-alone
enterprise. BioScience NewCo would serve as a bridge between Cannabis
Education, Patient R&D, and Pharmaceutical R&D partner opportunities within
the European theater. It is further envisioned that BioScience NewCo would
ultimately be spun out to shareholders of EuroLife via a Plan of Arrangement
under the Business Corporations Act (the "Arrangement") at a future date and
at a to be determined exchange ratio of stock dividend. The Arrangement is
designed to deliver additional value to the shareholders of EuroLife by
unlocking the value of the Company's cannabis and related data analytics
platforms and associated technology through efficient management,
optimization of corporate structure, and synergy capture.

*Strategic Rationale*

EuroLife is of the view that a corporate segmentation of the data analytics
technology assets from the newly refocused European hemp cultivation, CBD
consumer packaged goods, and health and wellness operations will serve to
enhance overall stakeholder value by eradicating disambiguation of assets.
Further, more singularly focused operations should allow for additional
flexibility in pursuing new and tertiary business opportunities for each
stand-alone entity. In addition to the ongoing operation of the Cannvas.Me
cannabis data platforms, BioScience NewCo intends to, among other
opportunities, assess additional avenues for growth such as:

?

Funding, formulating, and conducting R&D on new and novel
biopharmaceutical and nutraceutical therapeutics using cannabinoids and
mushrooms;

?

Utilization of the robust depository of captured cannabis data analytics
in order to assist pharmaceutical companies in assessment of marketing and
product strategy;

?

Partnerships and data sharing opportunities with synergistic companies in
the cannabis space;

?

Licensing and white-labeling opportunities with private and public sector
organizations;

?

Data capture and analytics services for clinical trial and clinical trial
design studies.

BioScience NewCo will be led by current EuroLife CEO, Shawn Moniz, who
possesses deep sector experience within the pharmaceutical and brand
strategy marketplace having successfully deployed various projects with such
Pharmaceutical companies as Astra Zeneca, Astellas, Takeda, Abbvie, Shire,
Novatris, and Novo Nordisk. Mr. Moniz has a magnitude of experience in
creating, executing, and facilitating patient-centric data platforms for
these and a roster of other multinational organizations. Additional
personnel with appropriate and pertinent skillsets will be instituted in due
course.

"According to Statista, the worldwide pharmaceutical market generated
revenue in excess of $1.2 Trillion USD in 2018. With aging population
demographics and attitudes towards prevention, and general health and
wellness on the rise, the various opportunities afforded within the space
are buoyant and poised for continued growth," stated Shawn Moniz, EuroLife
CEO. He continued, "Having invested substantial financial capital alongside
thousands of man hours into the development of the Cannabis data analytics
platforms, we are of the belief that we have built a solid framework that is
ripe for monetization and from which further growth can be built upon."

"Working alongside our European counterparts in relation to our recently
announced plans for German HempCo and the Dresden cultivation facility (as
per the Nov 22nd, 2019 press release) in devising an integrated and
synergetic 2020 EuroLife roadmap, I am pleased to see the continued and
dedicated focus from all parties involved as we strive to achieve our stated
goals," stated Derek Ivany, Chairman of the Eurolife Advisory Board.
"Decoupling the cultivation operation and the associated down-stream
business segments, from those of our digital educational technology assets,
will provide for greater shareholder value as both verticals will be allowed
to thrive in their related yet distinct consumer markets."

The potential Arrangement as contemplated herein is subject to, among other
things, finalization of economic benefit analysis, adequate funding,
appropriate corporate structure, regulatory approval, court approval, as
well as approval by not less than two-thirds of the votes cast at a special
meeting of EuroLife shareholders. The Company shall provide further update
on the potential Arrangement in due course.

*About EuroLife Brands Inc.*

EuroLife Brands (CSE: EURO) (FSE: 3CMA) (OTC Pink: EURPF) is a vertically
integrated enterprise focused on the pan European hemp, cannabinoid, and
heath & wellness sector.

For additional information:
Contact: ir@eurolifebrands.com or visit EuroLifeBrands.com [1]

_No stock exchange or securities regulatory authority has reviewed or
accepted responsibility for the adequacy or accuracy of this release._

Some of the statements contained in this release are forward-looking
statements, such as estimates and statements that describe the Issuer's
future plans, objectives or goals, including words to the effect that the
Issuer or management expects a stated condition or result to occur. Since
forward-looking statements address future events and conditions, by their
very nature, they involve inherent risks and uncertainties. For a
description of the risks and uncertainties facing the Company and its
business and affairs, readers should refer to the Company's Management's
Discussion and Analysis and other disclosure filings with Canadian
securities regulators, which are posted on www.sedar.com.

To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/50328 [2]

Click on, or paste the following link into your web browser,to view the
associated documents http://www.newsfilecorp.com/release/50328
News Source: Newsfile

2019-12-03 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: Eurolife Brands

Canada
ISIN: CA29876F1062
EQS News ID: 926613

End of News DGAP News Service

926613 2019-12-03


1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=02cc31789e5efaa0beb385e848eddfbb&application_id=926613&site_id=vwd&application_name=news
2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=dd9d8258db87e97fbbdc36c4909513b3&application_id=926613&site_id=vwd&application_name=news


(END) Dow Jones Newswires

December 03, 2019 00:32 ET ( 05:32 GMT)
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