SciSparc Signs a Non- Binding Letter of Intent to Acquire American Food Supplements and Cosmetics Brand in Approximately $20 Million Deal

SciSparc Ltd

SciSparc Ltd

The Letter of Intent contemplates the purchasing of a brand, trademark and seller account, a management agreement, a U.S. distribution agreement and an option to expand to new territories

TEL AVIV, Israel, Aug. 15, 2022 (GLOBE NEWSWIRE) — SciSparc Ltd. (Nasdaq: SPRC) (“Company” or “SciSparc”), a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders of the central nervous system, today announced that it has signed a non-binding letter of intent (“LOI”) with Merhavit M.R.M Holding and Management Ltd (“M.R.M”), to acquire from it its rights to purchase, a top-seller account and American food supplements and cosmetics brand and trademark (the “Brand”).

The Brand offers dozens of GMP (Good Manufacturing Practice) manufactured hemp-based, U.S. made, top-ranked products, including various food supplements for different purposes and cosmetics.

The LOI also describes, in addition to the potential acquisition of the Brand, a management

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