Onassis Holdings Corp. (OTCPK : ONSS) agreed to acquire MGC Nutraceuticals d.o.o. from MGC Pharma (UK) Limited for $6 million on June 18, 2020. As part of consideration, $6 million worth of shares in Onassis Holdings Corp are to be issued to MGC Pharma (UK) Ltd. The shares to be issued to MGC Pharma (UK) Ltd will be valued at the Onassis $8.5 million raising price. MGC Nutraceuticals d.o.o. to purchase all CBD and raw material formulas from MGC Pharmaceuticals Limited for as long as MGC Pharmaceuticals Limited or its subsidiaries continue operating any production facilities in the EU – potential revenues from this supply would be determined in the future following MGC Pharmaceuticals Limited receiving purchase orders. The transaction is expected to close within 150 days of signing of this acquisition agreement upon completion of the settlement terms. The material settlement conditions are as follows : Onassis has been deemed qualified by the Securities and Exchange Commission (the “SEC”) and has raised at least $2.5 million. Onassis has funded MGC Nutraceuticals with no less than $2.5 million in cash. MGC Pharma has the right to appoint one director to the Board of directors of Onassis. Onassis and MGC Nutraceuticals’ business and assets shall not have been adversely affected in any material way prior to the settlement. Settlement of the transaction is expected by the fourth quarter of 2020. The transaction is expected to close within five months.