RespireRx Transferes Its Pharmaceutical Cannabinoid Program To ResolutionRx
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RespireRx Pharmaceuticals Inc. (OTCPK:RSPI) has transferred its pharmaceutical cannabinoid program to ResolutionRx, a subsidiary of RespireRx. The transfer includes a license agreement for intellectual property and patent rights, and a sublicense agreement for rights to an exclusive license agreement with the University of Illinois. In return, ResolutionRx issued 25 million ordinary shares to RespireRx and paid $1. ResolutionRx also intends to issue series A preference shares, with an initial price established at 90% of a $25 million value. RespireRx shares were trading 16.66% higher at $0.0014 per share.
August 09, 2023 | 3:12 pm
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RespireRx transferred its pharmaceutical cannabinoid program to ResolutionRx, receiving 25 million ordinary shares and $1 in return. The company's shares were trading 16.66% higher at $0.0014 per share.
The transfer of RespireRx's pharmaceutical cannabinoid program to ResolutionRx, along with the issuance of 25 million ordinary shares to RespireRx, has likely contributed to the increase in RespireRx's share price. The company's future performance may be influenced by ResolutionRx's success in exploiting the licensed IP.
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