Aphria Invests $11.5 Million in Scientus Pharma

Aphria (TSX:APH; OTCQB:APHQF) announced an investment of $11.5 million for Scientus Pharma through a secured convertible debenture.
As quoted in the press release:

The Debenture has a two-year term, bears interest at the rate of 8%, paid semi-annually, is convertible into the common shares of Scientus Pharma at the rate of $2.75 a share and is secured by a first charge on all of the current and future assets of Scientus Pharma.
Scientus Pharma is a vertically-integrated biopharmaceutical company focused on the development of drugs that target the endocannabinoid receptors throughout the body for the treatment of diseases of the brain, organs, connective tissues, etc.  Scientus Pharma is raising the bar of cannabinoid products from medical-grade to pharmaceutical-grade.  Leveraging its proprietary, patent-pending formulation and processing technologies, Scientus Pharma is committed to leading the medical cannabis market towards pharmaceutical standards in manufacturing, formulations and dosing.

Click here to read the full press release.

Source: www.newswire.ca