Chemistree Technology Inc. announced that, further to the news releases dated June 15th and 18th, 2020, the first tranche of the investment into Immuoflex Therapeutics has now closed.
The definitive investment agreement includes Chemistree’s initial common share purchase of $500,000, together with Chemistree being granted a gross sales royalty on ImmunoFlex’s North American sales. A further $500,000 second tranche common share purchase is conditional on certain performance by ImmunoFlex or at the election of Chemistree. In addition, ImmunoFlex has now appointed Chemistree’s Chief Financial Officer Doug Ford to ImmunoFlex’s board of directors. Chemistree is also entitled to anti-dilution pre-emptive rights.
ImmunoFlex’s products are targeted at prevention and treatment of viruses and improving vaccine effectiveness by safely improving immunity biomarkers and enhancing the immune system as it actively responds to disease.
The first product, known internally as FLEX 0010, targeted to launch in late 2020, is designed to counteract weakened immune systems and diminished immune repertoire caused by a lifetime of battling infections and disease. It is a natural health product, manufactured and packaged in pharmaceutical-grade facilities and delivered as a flavoured effervescent powder designed to maximize bioavailability and minimize oxidation.
Chemistree President Karl Kottmeier commented, “We believe that the ImmunoFlex team has created an incredibly timely and logical product. Immune system defense and enhancement is of utmost importance in the face of the current pandemic and Chemistree is pleased to support the development of this and future ImmunoFlex products. For more information, please go to www.immunoflex.com to get a full understanding of this exciting new company.”
Chemistree Technology Inc. is an investment company dedicated to the U.S. cannabis sector, endeavoring to provide turn-key solutions for the regulated cannabis industry. The Company’s corporate strategy is to acquire and develop vertically integrated cannabis assets and to invest in other cannabis-related opportunities, leveraging management’s decades of expertise in the cannabis industry and corporate finance.
For more information, visit www.Chemistree.ca.