Nevada-based portfolio company ECGI Holdings Inc (OTCMKTS:ECGI) is currently making a move into the legal cannabis and CBD spaces. The company was in the news yesterday after it announced that it had inked a Letter of Intent with East West Pharma Group by way of which ECGI is going to acquire the intellectual property, key personnel, and future as well as current businesses of the former.
ECGI Announces Fully Executed LOI Toward Acquisition of East West Pharma Group
It was a significant new announcement from the company and it is going to be interesting to see if it leads to any move in its stock over the course of the coming days or not.
Danny Wong, who is the Chief Executive Officer of the company, spoke about the latest development as well. He noted that the acquisition of major talent as well as assets from East West Pharma would help ECGI in further broadening the network of potential investors. That is going to happen thanks to the lead generation team that the company is going to inherit as part of the deal.
On the other hand, East West Pharma also holds considerable know-how and owns proprietary technologies in the eastern medicine and CBD fields. That could be another major win for ECGI as per Wong.
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