RE:Spinco shares? Anyone know what's happening with them? I understand they will go public (IPO) later in the year...patience. I was hoping they would distribute Hempfusion shares $CBD.U to TGOD shareholders as they acquired 1.7M units on Jan 7. See press release below:
Vancouver, British Columbia - TheNewswire – January 7, 2021 – TGOD Acquisition Corporation (the “Company”) is pleased to announce that it acquired 1,700,000 units (the “HempFusion Units”) of HempFusion Wellness Inc. (TSX:CBD.U) (“HempFusion”) at a price of USD$1.00 per HempFusion Unit for a total consideration of US$1,700,000 under HempFusion’s initial public offering which was completed January 6, 2021 (the “Subscription”). HempFusion’s common shares (the “HempFusion Shares”) and the HempFusion Warrants (as defined below) commenced trading on the Toronto Stock Exchange (the “TSX”) on January 6, 2021 under the symbols CBD.U and CBD.WT.V, respectively.
Each HempFusion Unit is comprised of one HempFusion Share (a “HempFusion Unit Share”) and one-half of one HempFusion Share purchase warrant (each whole HempFusion Share purchase warrant, a “HempFusion Warrant”). Each HempFusion Warrant entitles the holder to purchase one HempFusion Share (a “HempFusion Warrant Share”) at a price of $1.20 per HempFusion Warrant Share until January 6, 2026. The HempFusion Unit Shares are subject to a contractual hold period and may not be traded until May 6, 2021. The HempFusion Warrant Shares will be subject to a contractual hold period and may not be traded until July 6, 2022.
“After careful consideration and extensive due diligence, the investment into HempFusion’s IPO made sense for us for a variety of reasons, including, first and foremost, a world-class management team with proven track record of execution,” commented Nick DeMare, the Company’s CFO. “HempFusion’s unique uncompromising approach to regulatory compliance, it’s diverse product portfolio with four brands and 46 unique products on shelves, its apparent industry first trojan horse strategy with Probulin Probiotics, and its national distribution to over 4,000 retailers including Amazon, Whole Foods, Sprouts, Vitamin Shoppe, Fresh Thyme Market really set the company apart. Not to mention their rapidly growing e-commerce presence, sales or purchase orders in eight countries and significant omni-channel revenue plan made this a clear decision for our capital,” continued Mr. DeMare.