Closely-held Lobo Genetics entered into a non-binding letter of intent with Cassowary Capital (TSXV:BIRD) that will result in a reverse takeover of Cassowary by Lobo.
Cassowary is a capital pool company on the TSX Venture Exchange. The resulting Issuer intends to list as a Tier 2 technology issuer on the exchange following a qualifying transaction.
Lobo helps ensure a safer cannabis experience through genetics. Consumers and patients can gain rapid, actionable insights into their personal response to cannabis based on their genetic profile. Lobo’s portable Cube DNA platform tests an individual’s DNA for genetic markers related to cannabis metabolism, risk and impairment. Test samples are collected using a cheek swab. The Cube requires minimal training and provides results in under an hour.
Lobo has obtained an exclusive worldwide licence from closely-held Spartan Bioscience to use the Cube for cannabis-related applications.
