Chemistree to invest up to $1 million in cannabinoid-linked biotech venture

Chemistree Technology Inc. (CSE: CHM) (CSE: CHM.wt) (USOTCQB: CHMJF) (the “Company” or “Chemistree”), is pleased to announce that the Company has entered into a Binding Letter of Intent (the “LOI”) to invest  up to $1 million in a new and exciting biotech start up focused on developing products to enhance immunological responsiveness.

Chemistree president Karl Kottmeier commented, “This is a fantastic opportunity for Chemistree. We have made and profitably exited one equity investment already and we very excited to complete this next investment as we believe this provides a logical deployment of capital, adding a unique value driver to the Company’s existing portfolio.”

Terms of the agreement include an initial $500,000 investment for an equity position and a gross revenue royalty. Completion of the investment is subject to completion of due diligence and entry into a definitive investment agreement. More information to follow as soon as possible. – PR Newswire