Company name: RoyalMax Biotechnology Canada
Description: Producer of marijuana products. The company’s marijuana products are cultivated in a 10,000 square feet greenhouse facility.
Year founded: 2013
Industry: Healthcare | Group: Other Healthcare | Code:
Start up capital raised (USD Million):
Business status: Generating Revenue
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Financing Status: The company was acquired by Matica Enterprises (CNQ: GRF) for an undisclosed amount on April 6, 2017. Under the terms of the agreement, $185,000 is due on signing of the agreement and Matica will the issue 6,000,000 common shares of Matica. After completion of the review stage, Matica will be required to provide funding of $2.2 million to complete the build out of the medical marijuana facility in preparation for inspection by Health Canada. This will earn Matica an initial 65 percent interest. Within 30 days of Matica receiving notification of licensing by Health Canada, Matica will pay an additional $400,000 and Matica will receive an additional 5 percent interest for a total 70 percent interest. After the completion of 12 months of production at the facility, Matica will make a final payment of $400,000.
Number of active investors:
Profile last updated: 08-Sep-2018
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