CORRECTING and REPLACING: Pharmasimple Announces Its Decision to Acquire an Equity Stake in Phytocann Group
Headline of release dated August 16, 2022, should read: Pharmasimple Announces Its Decision to Acquire an Equity Stake in Phytocann Group (instead of Phytocann Group announces its acquisition of a stake in Pharmasimple). Also, first sentence of second paragraph should read: Pharmasimple is delighted to acquire a 5% equity stake in Phytocann Group for the sum of 5 million euros (instead of Phytocann Group is delighted to acquire a 5% stake in Pharmasimple for the sum of 5 million euros).
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220809005631/en/
The updated release reads:
PHARMASIMPLE ANNOUNCES ITS DECISION TO ACQUIRE AN EQUITY STAKE IN PHYTOCANN GROUP
Phytocann Group, a vertically integrated company and European CBD pioneer, is proud to announce a partnership with Pharmasimple, a company listed on Euronext Growth Paris and industry leader in Belgium. This strategic rapprochement opens up a new era for the distribution of cannabic products in pharmacies.
Pharmasimple is delighted to acquire a 5% equity stake in Phytocann Group for the sum of 5 million euros. Beyond the additional skills and expertise, this increase in capital lays the foundations for a medium-term IPO.
The research and development component is also particularly important. New ranges and the launch of new products are already being explored by the two entities. As a long-standing online pharmacy leader, Pharmasimple has been undergoing a business transformation for several months by diversifying its network of physical pharmacies. Having set itself the goal of 200 by 2025, 14 are already open and 15 are scheduled to open in 2022.
This strategic partnership will lead to the introduction of a range of unique products dedicated to Pharmasimple, including CBD oils and cosmetics. It should be noted that the brands belonging to Phytocann Group (Harvest Laboratoires, Ivory, Easy Weed, Herboristerie Alexandra etc.) will be distributed both in shops and on the Pharmasimple website.
As online sales of CBD are of crucial importance to Phytocann Group, this partnership will enable us to create shared synergies and thus to step up and expand our online presence. Always striving to create and offer outstanding products, research and tests are being carried out on new product innovations based on CBD and other non-psychotropic cannabinoids.
This capital acquisition takes advantage of the best possible timing regarding the expansion of Phytocann Group and the opening up of the medicinal cannabis market in Europe, a sign of real added value for Pharmasimple.
Distribution in pharmacies and drugstores was a major challenge. This also strengthens the positioning and the DNA of a 100% vertically integrated group, from production to sales.
If you would like any further information or an interview with a leader of Phytocann Group, don’t hesitate to contact the press office: sbotton@stepconseil.com
The original source-language text of this announcement is the official, authoritative version. Translations are provided as an accommodation only, and should be cross-referenced with the source-language text, which is the only version of the text intended to have legal effect.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220809005631/en/
Contact information
PRESS
Samuel BOTTON: +33 (0)6 84 79 99 61 – sbotton@stepconseil.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Todd Clegg Named Carestream’s Chief Executive Officer29.4.2024 17:15:00 EEST | Press release
Carestream, a world-leading provider of medical imaging systems and non-destructive testing solutions, announced that Todd Clegg has been named CEO and appointed to the Board of Directors, effective immediately. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240429960055/en/ Carestream CEO Todd Clegg (Photo: Business Wire) Mr. Clegg joined Carestream in October last year and has been the company’s interim CEO since December 1. “I am excited to continue in my role as leader of Carestream and to build upon the success we’ve had over the last six months,” he remarked. “Carestream has been a consistent leader in the healthcare and non-destructive testing markets with innovative products and solutions and we expect this to continue going forward. I also want to thank the Carestream team and Board for welcoming me into the organization and for their support getting me up to speed quickly and effectively.” Mr. Clegg is an experienc
Intelsat, CNH Smart Farming Satellite Connectivity Coming to Brazil29.4.2024 16:00:00 EEST | Press release
Intelsat, operator of one of the world’s largest integrated satellite and terrestrial networks, and CNH (NYSE: CNHI), whose brands include Case IH, New Holland and Steyr, agreed to install, connect and operate ruggedized multi-orbit satellite terminals on CNH farm equipment operating in remote farmland throughout Brazil with Intelsat’s global network. “As the first satellite communications company to provide multi-orbit connectivity to farmers around the world, Intelsat’s collaboration with CNH will unlock new capabilities in the most remote locations through our global communications platform,” said Dave Wajsgras, CEO of Intelsat. “We’ve proven that ruggedized, built-for-purpose terminals that can access multiple satellite orbits from anywhere offer the highest network reliability, greater throughput and the best user experience.” Connected smart farms or “precision farming” require robust connectivity to stream data among farm equipment and from the equipment to the cloud. There are
The Sixth Annual WIBA Awards 2024 Honors the Most Impactful Personalities on Social Media at the Ceremony During Cannes Film Festival29.4.2024 14:46:00 EEST | Press release
The sixth annual WIBA Awards for social media personalities on a mission to change the world will take place on May 24th, 2024, at the iconic Hotel Martinez during Cannes Film Festival. The event gathers hundreds of top global content creators responsible for the year’s most viral moments. The evening features a cocktail reception, a Gala Dinner, and the Awards ceremony with a special performance by Sonique. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240426909677/en/ WIBA Awards 2023 Winners (Photo: Business Wire) WIBA Awards are overseen by the World Influencers Association (WIBA) based in Monaco. It is the first and the only international award honoring the work of social media personalities across multiple categories ranging from Best Beauty Influencer to Best Pet Influencer. In 2023, Forbes magazine described the event in inspired terms. “The annual World Influencers Awards gathers who-is-who of viral moments as well
ADS-TEC Energy Appoints Automotive and Mobility Expert, Alwin Epple, as Newest Board Member29.4.2024 13:01:00 EEST | Press release
ADS-TEC Energy plc (“ADS-TEC Energy”, “Company”, “we”, “our” or “us”) (NASDAQ: ADSE), a global leader in battery-buffered, ultra-fast charging technology, is pleased to announce the appointment of Alwin Epple to its Board of Directors. With an illustrious career in the automotive industry spanning over three decades, Mr. Epple brings a wealth of experience and expertise to the company’s leadership team. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240429129397/en/ New Board Member for ADS-TEC Energy, Alwin Epple (Photo: Business Wire) Mr. Epple has held prominent positions at Daimler AG and Mercedes Benz Group for the past 20 years. Most recently, he served as Chief Audit Executive at Mercedes-Benz Group. Prior to this, he served as the Head of Project Management for Daimler AG in Stuttgart, where he spearheaded the restructuring of passenger car sales in 18 countries. Mr. Epple's extensive international experience also in
Al Shindagha Museum - A Modern Journey through Dubai's Rich Heritage and Cultural Tapestry29.4.2024 11:00:00 EEST | Press release
As Dubai gears up to host the prestigious International Council of Museums (ICOM) General Conference for the first time in the MENASA region in 2025, Al Shindagha Museum is poised to play a pivotal role in this landmark event. Managed by the Dubai Culture & Arts Authority (Dubai Culture), the museum is a testament to the UAE’s rich heritage and cultural tapestry. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240423357515/en/ Al Shindagha Museum, the UAE’s largest heritage museum on the banks of Dubai Creek (Photo: AETOSWire) Al Shindagha Museum, the UAE's largest heritage museum, is a prominent stop in the route to understanding Dubai. It weaves a unique tapestry of stories and offers distinctive journeys that guide visitors through an array of 22 pavilions nestled within 80+ historic houses, celebrating Dubai's history and culture. The museum affords its guests the opportunity to immerse themselves in the Emirati past thro
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom