SBEV News & Events

Splash Beverage announced that it has entered into an exclusive global licensing agreement with Argent BioPharma for CannEpil, a proprietary, patent protected cannabinoid-based investigational therapeutic approved for the treatment of drug-resistant epilepsy in multiple European countries. As part of the transaction, Splash has secured a $1M strategic investment commitment from C/M Capital Partners to support regulatory advancement, clinical development planning, commercialization initiatives and strategic partnership activities. Splash intends to deploy proceeds from the strategic investment toward advancing FDA-related activities, expanding the existing clinical and real-world evidence package, engaging U.S. epilepsy investigators and identifying a strategic pharmaceutical development partner capable of supporting future U.S.-based clinical trials. Under the terms of the agreement, Splash has acquired exclusive worldwide rights to develop, commercialize, market, distribute, sublicense and sell CannEpil for the treatment of drug-resistant epilepsy, refractory epilepsy, seizure disorders and related neurological conditions. The license encompasses all global territories and includes rights to future product improvements, reformulations and next-generation product developments within the licensed field. In addition to its affiliate's $1M capital infusion described above and as consideration for the transaction, Mercer Street Global Opportunity Fund agreed to forgive approximately $5M of Argent BioPharma indebtedness and Splash agreed to issue to $5.5M of newly issued Splash preferred equity as part of the consideration for the license, aligning stakeholders behind the future development and commercialization of the CannEpil platform. Argent BioPharma is incentivized to continue to participate in the long-term success of the program through a royalty equal to 15% of net revenue generated from worldwide sales of CannEpil. The agreement grants Splash exclusive worldwide commercialization rights for an initial twenty-year term and includes rights to sublicense the technology to strategic pharmaceutical partners

Splash Beverage files to sell 10M shares of common stock for holders

Splash Beverage announced the appointment of Brady Cobb as interim CEO, effective immediately. Cobb, who has served on the company's board of directors since February will also serve as the company's principal executive officer. The company also announced that William Meissner has resigned as president and from all other officer positions and employment with the company, effective June 1.