BRIEF-Mettrum to sell non-core subsidiary for $7 mln

Tue Sep 20, 2016 7:14am EDT
 
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Sept 20 (Reuters) - Mettrum Health Corp

* Says sale agreement of non-core subsidiary for $7 million and enters three year product supply agreement

* Core asset adds non-dilutive $7 million to balance sheet

* Once transaction is completed in coming months, Bennett Road North will be renamed Starseed Medicinal Inc.

* Supply agreement expected to generate up to $40mm in revenue and make a material contribution to profitability

* Three-Year supply agreement is expected to make a material contribution to company's revenue and profitability

* Says divesting of bennett road north is not anticipated to have any material impact on Mettrum's production Source text for Eikon: Further company coverage: