Glow Lifetech Strengthens Financial Position and Partnership with Swiss PharmaCan AG
Friday, Dec 20, 2024 6:55 pm ET
4min read Glow Lifetech Corp. (CSE: GLOW) (OTCQB: GLWLF) (FSE: 9DO) has recently announced the completion of the final payment under the Swiss Pharma Share Exchange Agreement and a debt settlement, significantly strengthening its financial position and strategic alignment with Swiss PharmaCan AG. This move is expected to have a positive impact on the company's growth and innovation in the cannabis and natural health sectors.
The final payment under the Share Exchange Agreement involved the issuance of 10,000,000 shares at a deemed price of $0.20 per share to Swiss PharmaCan AG. This transaction reduced Glow Lifetech's outstanding shares from 15,000,000 to 5,000,000, increasing its earnings per share (EPS) and potentially boosting its stock price. Additionally, the debt settlement of up to $510,470.44 through the issuance of up to 8,064,304 common shares at a deemed price of $0.0633 per share further improved Glow Lifetech's balance sheet by reducing its debt obligations.
The strategic partnership with Swiss PharmaCan AG, a Switzerland-based biotechnology company and licensor of Glow's proprietary MyCell™ Technology, plays a pivotal role in Glow Lifetech's growth and innovation in the cannabis and natural health sectors. The partnership has enabled Glow to bring its cutting-edge science and breakthrough products to market in Canada, as highlighted in the company's Canadian Securities Exchange (CSE) Form 2A Listing Statement dated March 8, 2021. Swiss PharmaCan's groundbreaking technologies and expertise in cannabinoids and nutraceuticals continue to support Glow in pushing the boundaries of innovation across these sectors.
Glow Lifetech's access to Swiss PharmaCan AG's technologies and expertise has significantly enhanced its product offerings. Swiss PharmaCan AG is the licensor of Glow's proprietary MyCell™ Technology, which transforms poorly absorbed natural compounds into enhanced water-compatible concentrates. This technology unlocks the full healing potential of valuable compounds, dramatically improving bioavailability, absorption, and effectiveness. By leveraging Swiss PharmaCan AG's groundbreaking technologies and expertise in cannabinoids and nutraceuticals, Glow Lifetech can bring its cutting-edge science and breakthrough products to market more efficiently, further solidifying its position as a leader in the industry.
In conclusion, the completion of the final payment under the share exchange agreement and debt settlement has significantly strengthened Glow Lifetech's financial position and strategic alignment with Swiss PharmaCan AG. The partnership with Swiss PharmaCan AG continues to support Glow Lifetech's growth and innovation in the cannabis and natural health sectors, enabling the company to push the boundaries of innovation and solidify its position as a leader in the industry.
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