- FLUENT Corp. (CSE: FNT.U; OTCQB: CNTMF) on Friday said it has entered into a definitive agreement to sell its Texas business, including cultivation, manufacturing, delivery and retail operations, to Legacy Therapeutics for $30 million.
- Under the deal, $25 million will be paid at closing, with two additional $2.5 million payments due on the first and second anniversaries of completion.
- The company said proceeds are expected to be used primarily to repay a portion of its senior secured debt, with remaining funds allocated to working capital and general corporate purposes.
- The transaction, which is subject to regulatory approvals and other closing conditions, involves the transfer of FLUENT’s subsidiary Cansortium Texas, which operates in Schulenburg and Houston.
- Source: Press Release
