Pharmaceutical company CURE Pharmaceutical Holdings (OTCQB: CURR) agreed to acquire CBD products company Sera Labs Inc. for an up-front payment of $20 million.
The price tag includes $1 million in cash and $19 million in CURE stock.
The transaction, intended to occur in early October, commits CURE to invest $4 million in working capital, which is intended to support Sera Lab’s growth.
With this consolidation, the companies expect to become cash flow positive within 18 months.
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