The company will provide market awareness services to Preveceutical, and the company will issue two million stock options to Stadnyk & Partners. Of those options, one common share in the company may be acquired for C$0.08 per share for a period of 24 months. The initial agreement is for one year, subject to renewal by agreement of both parties.
Stadnyk & Partners will provide strategic finance, merger and acquisition, and capital markets advisory services to Preveceutical to help it target its business goals during the terms of the agreement, for which three million stock options will be issued to Stadnyk & Partners.
The founder of Stadnyk & Partners, David Stadnyk, has successfully initiated equity capital financing efforts of more than C$500mln. As an entrepreneur, he founded both private and public companies including: Pharmaxis, Eurpraxia Pharmaceuticals, Supreme Cannabis Company, Friday Night Inc and M Pharmaceutical Inc, among others.
Shares of Preveceutical were up 11.11% at C$0.10 on Tuesday.