SciSparc Ltd. (SPRC) has released an update.
SciSparc Ltd., a clinical-stage pharmaceutical company, has signed a non-binding letter of intent to spin off its advanced clinical stage pharmaceutical portfolio to Miza III Ventures Inc., a publicly traded Canadian company. The deal, valued at approximately $11.6 million, would give SciSparc a controlling interest in Miza, ranging from 75% to 84.53%, depending on final terms. This strategic move aims to create shareholder value and follows SciSparc’s recent merger with AutoMax Motors Ltd.
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