Vancouver, BC, November 1, 2018 – Cannex Capital Holdings Inc. (“Cannex” or the “Company”) (CSE: CNNX / OTCQX: CNXXF) is pleased to announce that Cannex has acquired a 10% founding ownership interest for US$750,000 in Soma Group Holdings Inc. (“Soma”), a New Zealand-based cannabis start-up. Soma have an innovative science-based cannabinoid R&D and production platform and represent an important first step in Cannex’s international intellectual property development strategy.
As a part of the Soma initiative, Greg Marshall has stepped down from the Cannex Capital board to join Soma as a founding director. He will work closely with Soma’s CEO Mike Healy, a 25-year veteran of the global life sciences industry and was, for the past nine years, CFO of Apotex Australia and Asia Pacific. Cannex thanks Mr. Marshall for his efforts during the Company’s formative stages and welcomes the opportunity to work with him in his new role at Soma and as an advisor to the Cannex board.
“Soma is pursuing a three-pronged approach to creating a leading cannabis business beginning with an R&D partnership with the New Zealand government to create world-class cannabis genetics for worldwide licensing,” said Mr. Marshall. “Secondly, we’re acquiring a profitable, GMP certified food processing facility in Australia from Coca Cola Amitil to manufacture nutraceutical terpene-enhanced products for Asian Pacific distribution and will use this facility for cannabis production once licensing is in place. Lastly, we will acquire Vaporium, a New Zealand e-cigarette online and physical retailer which will eventually form the backbone of our retail cannabis strategy.”
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