Cannvalate is a distributor. They sell the branded product of brands that they partner with. They are also involved with Valens to create Australia's largest plant for medicinal cannabis in Melbourne, a $50M project to create ready made generic products like oils and gels. 95% of Australia's branded goods are just imported EU/Canadian GMP approved product. Connect the dots....
Incannex is a brand of oils biz, like Althea is. Difference is Sud and Cannvalate is aligned with us. Also, Incannex IP will belong to us not Cannvalate.
The thing is, with Cannvalate being #1 SH and likely subholder when they convert the rest of their options will mean it is possible that they will want to take us over or merge with us to acquire the IP. Cannvalate has flagged to list on the ASX before and have raised seed funding but have not listed thus far. Why? Instead they have done this deal with IHL, and Sud is working with us as well. A lot to think about there...
