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Luminor Medical Technologies (CSE:LMT) will acquire 100% of RISE Research Inc

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Luminor previously held an exclusive Canadian license for cannabis-based consumer products developed by RISE Research, but following this acquisition, the company will be able to expand its participation in the cannabis sector.

Additional Information:

Company: Luminor Medical Technologies Inc.
Website: http://www.luminormedical.com
Stock Symbol: CSE: LMT
Date Published: Jan 15, 2018
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Luminor Medical Technologies (CSE:LMT) announced that it will acquire 100% of RISE Research Inc.

Luminor previously held an exclusive Canadian license for cannabis-based consumer products developed by RISE Research, but following this acquisition, the company will be able to expand its participation in the cannabis sector.

RISE's cannabis commercial products are based on a patent pending formula, currently filed with
the U.S. Patent and Trademark Office, to create precise cannabis-based formulations that may produce specifically targeted effects for both medical and adult-use sectors.

A key area of focus for RISE is evidence-based formulations to address sexual health and wellness for both adult men and women.

Currently, RISE's portfolio consists of cannabis-based formulations which support patients with low libido called Jamaica blū and Jamaica pnk.

The company will be offering products with distinct CBD and THC based components to the California market starting in this first quarter and will follow on with other jurisdictions.

These solutions will be presented to the Canadian market when the regulatory conditions take effect.

The primary manufacturing and marketing focus will be on CBD products derived from the highest quality CBD hemp, and the company will only sell THC-based products under license to third parties in the U.S. until federal law pertaining to cannabis is changed.

Under the terms of the acquisition, Luminor will issue 9.5 million shares and buy out the current Canadian royalty for $250,000.

Anton Mattadeen, incoming CEO, stated: “We have created intriguing consumer product formulations that are designed to generate appeal beyond the world of cannabis and into an evolving mainstream audience. This agreement represents the next logical step in that process, and underscores the commitment, understanding, and alignment that exists within our blended group."

Christian Sauvageau, the current CEO, will remain in an advisory role to continue the development of the
Scout DS® device, which has been regulatory cleared in certain markets as a clinical tool to assist in the identification of both prediabetes and type 2 diabetes.

It is the first non-invasive testing system designed to provide a highly sensitive and convenient method for measuring prediabetes/type 2 diabetes related biomarkers in the skin, the accumulation of which are accelerated by abnormal blood sugar levels and oxidative stress.

Unlike current testing methods, a Scout DS® test requires no blood draw, no fasting, and no waiting for a lab result.

The product has been used and validated in thousands of patients around the world.

The shares are trading at $0.50 and with 33.8 million shares outstanding, the company is capitalized at $16.9 million.

For more information, please visit www.luminormedical.com, contact Mark Komonoski, Communication Director, at 403-470-8384 or email mark@komonoski.com.

I’m Samantha Deutscher for Investmentpitch Media