Scisparc enters into non-binding letter of intent to sell a 50% interest in its subsidiary that owns an amazon top seller brand

Tel aviv, israel, dec. 14, 2022 (globe newswire) -- scisparc ltd. (nasdaq: sprc) (“company” or “scisparc”), a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders of the central nervous system, today announced that it has entered into a non-binding letter of intent ("loi") for the sale of a 50% interest in its wholly owned subsidiary, scisparc nutraceuticals inc. (the subsidiary”), which owns wellutiontm , a top- selling amazon.com marketplace brand, to jeffs' brands ltd. ("jeffs' brands")( nasdaq: jfbr), a data-driven e-commerce company operating on amazon, for $3 million in cash or a combination of cash and ordinary shares of jeffs' brands, as agreed by the parties.
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