Mettrum Inks Deal with Hempola Marking Entry into Foods
February 25th, 2015
News, Top Story
Mettrum Health Corp. [stockquote symbol=MQTRF], a vertically integrated agri-pharmaceutical company focused on research, development, production and distribution of medical cannabis products, recently announced that it has entered into a term sheet to purchase Oilseed Works Inc. (which operates under the Hempola brand, “Hempola”), providing for the Company’s strategic entry into the hemp cannabis-based functional foods market.
“The proposed addition of Hempola to our product lines will further solidify our position in the natural health products markets,” said Michael Haines, Chief Executive Officer of Mettrum Health Corp. in a recent press release. “We are very excited to have the opportunity to expand our operations and product offering into a complementary area of our existing business and look forward to completing the transaction and working together with our new colleagues at Hempola in further product development and growth.”
With over 20 years of industry experience, Hempola produces and distributes edible hemp products and hemp derivatives with long standing supply agreements in place with hemp growers and processors. Hemp seed consists of approximately 33 percent protein, and a high concentration and favourable ratio of essential fatty acids – Omega 3, 6, 9 and GLA. Hemp boasts a high level of naturally occurring antioxidants and contains non-psychoactive cannabinoids such as cannabidiol (CBD) and cannabinol (CBN). Hemp also contains no known allergens and in most conditions can be grown without using pesticides.
Completion of the acquisition is subject to negotiation and execution of definitive transaction documents (including accuracy of representations and warranties, compliance of covenants and satisfaction of customary conditions) as well as receipt of all requisite approvals and consents, including approval by the board of directors of the company.
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