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CAN (BC): Agreement for sale of Celista-based cultivation assets

Citation Growth and its wholly-owned subsidiary Full Spectrum Medicinal have signed the Definitive Agreement with Indigenomix International for sale of 40 acres of land, buildings and other assets on the land in Celista, BC.

"Per the June 15, 2020 signed LOI which cancelled the previous LOI dated April 8, 2020, Citation and Indigenomix have agreed to a purchase price of $8,500,000 CAD in a Definitive Agreement that includes a non-refundable deposit," the team with the company explains. "The Definitive Agreement includes a commitment from Citation to support Indigenomix on regulatory requirements, an intellectual property license for certain organic growing methodologies and other material technology."

"The transaction is subject to customary closing conditions and receipt of regulatory approval. Citation’s Board anticipates the closing of the transaction prior to August 31, 2020."

For more information:
Citation Growth Corp. 
citationgrowth.com  

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