DealsJul 6, 2026, 04:37 PM
Splash Beverage Acquires Exclusive Worldwide Rights to CannEpil®
AI Summary
Splash Beverage Group, Inc. entered into an Exclusive License Agreement with Argent Biopharma Limited, acquiring exclusive worldwide rights to CannEpil®, a pharmaceutical product for drug-resistant epilepsy. As part of the deal, Splash Beverage will pay a 15% royalty on net revenue and issued 5,500 shares of Series D Convertible Preferred Stock with a $5.5 million stated value, leading to the cancellation of approximately $5.5 million in the Licensor's promissory notes. Additionally, C/M Capital Partners committed to invest at least $1 million in Splash Beverage securities to support commercialization efforts.
Key Highlights
- Acquired exclusive worldwide rights to CannEpil® for drug-resistant epilepsy.
- Licensor to receive 15% royalty on net revenue from product sales.
- Issued 5,500 Series D Preferred Stock shares with $5.5M stated value.
- Cancelled approximately $5.5M of Licensor's promissory notes.
- C/M Capital Partners committed to invest at least $1M in SBEV securities.
- SBEV to pay C/M $1M sales bonus on $5M cumulative net revenue.
- Milestones: Phase I trial within 24 months, Phase II within 48 months.
- License Agreement has an initial term of 20 years.
Price Impact
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