Atlas Global Brands Inc. (CSE:ATL) has entered into binding letters of intent through its Israeli subsidiary, each dated March 2, 2023, pursuant to which the company will indirectly acquire 70% and 51% of the outstanding securities of two cannabis pharmacies in Israel.
Each of the pharmacies to be acquired are licensed to dispense medical cannabis. Pharmacy 1 is located in Tel Aviv and pharmacy 2 is located in Jerusalem. These pharmacies were specifically designed to sell and distribute cannabis. Completion of the proposed transactions will expand Atlas’ retail presence in Israel thereby advancing its vision of becoming a premium supplier of medical cannabis in the Israeli …