BRIEF-Auscann Group Says Non-Binding Term Sheet Signed To Acquire 100% Shares In Ecc Pharm

Reuters05-17

May 17 (Reuters) - Auscann Group Holdings Ltd :

* NON-BINDING TERM SHEET SIGNED WITH ECCPHARM

* TERM SHEET TO ACQUIRE 100% OF SHARES IN ECC PHARM

* NON-BINDING TERM SHEET IN SCRIPT, ON A 1:1 RATIO BY WAY OF A SCHEME OF ARRANGEMENT

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