FluroTech announced that, pursuant to the terms of a royalty purchase agreement entered into with UTI Limited Partnership (“UTI”), to issue 333,334 FluroTech common shares, at a deemed price of $0.45 per share, to UTI in exchange for UTI selling its one percent royalty on net product sales of FluroTech. The elimination of royalty on net product sales will improve cash flow and margins. FluroTech is a technology and marketing company whose core business is focused on the commercialization of new technologies in the cannabis industry. FluroTech’s proprietary spectroscopy-based technology allows for the testing and identification of organic and inorganic compounds contained within biological samples derived from cannabis plants.
Hemp Land, Cannabis Hemp Blog, 10/25/2020 17:27:30