SOL Global announces investment in and strategic partnership with GreenLight Pharmaceuticals

2 minute read
02 January 2019


On January 2, 2019, SOL Global Investments Corp. (CSE: SOL) (Frankfurt: 9SB) (OTCQB: SOLCF) announced an investment in and strategic partnership with GreenLight Pharmaceuticals Ltd., a vertically-integrated medical cannabis company headquartered in Dublin, Ireland.

Under the terms of the transaction, SOL Global will acquire a 25% stake in the equity of GreenLight for €1.8 million, with an option to increase its stake to 51%. In addition, SOL Global acquired an option to acquire a 75% stake in a future GreenLight subsidiary that successfully obtains a cannabis cultivation license in Ireland or Northern Ireland for an aggregate exercise price of approximately €1 million.

SOL Global is an international investment company with a focus on, but not limited to, cannabis and cannabis related companies in legal US states, the hemp and CBD marketplaces and the emerging European cannabis and hemp marketplaces. Its strategic investments and partnerships across cultivation, distribution and retail complement the company's R&D program with the University of Miami. It is this comprehensive approach that is positioning SOL Global as a future frontrunner in the United States' medical cannabis industry.

Gowling WLG advised SOL Global with respect to this investment and strategic partnership with a team that included Peter Simeon and Josh Almario.

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