MPX Bioceutical Corporation (CSE:MPX; OTC:MPXEF) announced its subsidiary CGX Life Sciences entered into a definitive limited liability membership interest and asset purchase agreement for several marijuana assets in Arizona.
As quoted in the press release:
MPX Bioceutical Corporation (“MPX” or the “Company”) is pleased to announce that the Company, through its wholly-owned U.S. subsidiary CGX Life Sciences Inc. (“CGX”), has entered into a definitive limited liability membership interest and asset purchase agreement, dated and effective March 1, 2018 to, acquire 100% of the membership units of ABACA, LLC (“ABACA”), Ambary, LLC, Tarmac Manufacturing, LLC (“Tarmac”) and Tower Management Holdings, LLC. ABACA is a fully-integrated medical marijuana business licensed under the provisions of the Arizona Medical Marijuana Act, A.R.S. Title 36, Section 28.1 (the “AMMA”) operating a dispensary under the trade name “The Holistic Center” in Phoenix, Arizona as well as certain real estate interests located at 21035 North Cave Creek Road, Phoenix, Arizona.
“This acquisition represents a solid addition to our industry and presence in Arizona, a State that offers MPX one of the best-regulated, yet industry-supportive markets in the country,” said W. Scott Boyes, MPX’s Chairman, President and CEO.