2 months later another update .
Hope they can satisfy the necessary funding requirements.
"Arrowhead Gold Corp (2) (C:AWH)
Shares Issued 15,471,761
Last Close 6/17/2015 $0.025
Thursday June 18 2015 - News Release
Mr. Steve Smith reports
ARROWHEAD GOLD TO SIGN DEFINITIVE AGREEMENT TO ACQUIRE BIO THERAPEUTIC MOLECULES INC.
As per its news release of March 15, 2015, Arrowhead Gold Corp. is moving forward with a definitive agreement to acquire 100 per cent of the outstanding shares of Bio Therapeutic Molecules Inc. (BTMI), a private company, with its headquarters in Guelph, Ont.
Pursuant to the agreement, Arrowhead will acquire all shares of BTMI from the BTMI shareholders in exchange for 41.5 million common shares of Arrowhead.
Closing is contingent upon completion of a financing and to have a minimum $2.0 million on deposit after closing. Management of AWH are required to enter into a voting support agreement pursuant to which they will vote their shares of AWH in support of the transactions set out in the LOI.
BTMI will nominate candidates for election to AWH's Board of Directors.
AWH will obtain all applicable regulatory and shareholder approvals.
Bio Therapeutic Molecules Inc.
BTMI has a multi-disciplinary scientific team of principals and advisors who are experts in horticultural science, including metabolism, biochemistry, physiology, breeding and production, as well as the pharmaceutical industry, including discovery, development, manufacturing and marketing of drugs.
BTMI has developed a two-platform business model:
- Generating immediate cash flow (with growth potential) in Product Development and Research Management (PDRM) services. PDRM services will include: Opportunity Assessment (Market Analysis, Due Diligence); CMC (Chemistry, Manufacturing and Controls) Management; Project Management; and, Clinical and Pre-Clinical Toxicology.
Cash flow from these services will be used to develop an equity stake in a portfolio of "Active Pharmaceutical Ingredient" (API) and drug products with long-term value potential.
- BTMI has submitted an application to Health Canada to become a Licensed Producer of Medical Marihuana. Direct sale of dried marihuana against current regulation will support near term growth, and discovery activities with respect to phyto/bio-active molecules will be pursued to establish a pipeline of potential products for longer term growth.
Cash flow from sale of medicinal marihuana will be used to auto finance R&D into Cannabis-based pharmaceutical products."
