SciSparc Funds AutoMax, Secures Import Deal

SciSparc Ltd. (SPRC) has released an update.

SciSparc Ltd., a clinical-stage pharmaceutical company, has provided an additional $1.85 million loan to AutoMax Motors Ltd. under a bridge loan agreement, totaling $4.25 million in funding. This financial move negates the need for closing financing as part of the companies’ merger agreement, while AutoMax secures a direct import deal with major Chinese vehicle manufacturer JAC Motors through its subsidiary. SciSparc continues to focus on cannabinoid-based pharmaceuticals for central nervous system disorders and rare diseases.

For further insights into SPRC stock, check out TipRanks’ Stock Analysis page.