logo-loader
Primary Energy Metals Inc.

Primary Energy Metals to evaluate acquisition of Colombian licensed producer

Primary Energy Metals is mulling acquiring a Colombian CBD based medical grade cannabis producer

CBD pic
NNZ, via its subsidiary, is licensed to cultivate, produce and distribute cannabidiol (CBD) based medical grade cannabis in Colombia

Primary Energy Metals Inc (CSE:PRIM) (OTCMKTS:PEMTF) revealed Wednesday that it is mulling acquiring a Colombian cannabidiol (CBD) based medical grade cannabis producer as it kick-started a review of potential opportunities.

The company says it will focus potential transactions in the cannabis sector, particularly the cultivation and production of cannabis outside North America.

READ: Primary Energy Metals closes C$1.1 million financing as new CEO's first order of business

It has now inked a non-binding letter of intent (LOI) with private firm NNZ Consulting to evaluate the existing assets of NNZ

NNZ, via its subsidiary, Ihuana SAS, is licensed to cultivate, produce and distribute cannabidiol (CBD) based medical grade cannabis in Colombia.

Ihuana SAS wants to become a large scale producer of naturally grown non-psychoactive cannabis, with its primary operations centralized in the Bogota savannah in central Colombia.

Primary Energy cautioned that this letter of intent entered into does not set out terms of a potential transaction nor have any such terms been finalized.

Contact the author at [email protected]

 

Quick facts: Primary Energy Metals Inc.

Price: $0.40

Market: CSE
Market Cap: $9.33 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Primary Energy Metals Inc. named herein, including the promotion by the Company of Primary Energy Metals Inc. in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Primary Energy Metals see big upside with projects in Utah, Spain and...

Primary Energy Metals (CSE:PRIM) CEO Patrick Morris joined Steve Darling from Proactive Investors in Vancouver to update Primary's projects around the world including Spain. Morris also provided details of their recent acquisition of 39 mineral claims in various locations in the Province...

on 31/10/18

RNS

Holding(s) in Company

4 days, 17 hours ago

Half-year Report

1 week, 6 days ago

Quarterly Update

2 weeks, 5 days ago

Result of AGM

on 23/7/19

Notice of AGM

on 26/6/19

Final Results

on 16/5/19

2 min read