Under the terms of the agreement, MCOA will contribute $2M in total cash to the project, as well as common shares with a value of $1M.
In exchange, the Company will own a 20% equity position in NPE. MCOA and NPE have also officially signed a Joint Venture Agreement to establish Viva Buds as a premier cannabis delivery company. Both the companies will share profits equally.
Now read: INVO BioScience reports FY results »
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