Britannia Life Sciences Inc Com C.RLSC

JULY 28 SEDAR

[NostraDAMNus]

https://www.sedar.com/GetFile.do?lang=EN&docClass=7&issuerNo=00015710&issuerType=03&projectNo=03088008&docId=4767721

Escrow Release Conditions Upon the satisfaction of the following conditions (the “Escrow Release Conditions”), to be completed within 180 days from the date of closing, the escrow agent shall release the Escrowed Funds (defined below) to the Company. - All current outstanding debt, not including trade payables, of the Company shall be exchanged for Resulting Issuer Shares based on a conversion price of C$0.075 per share; - All current interest payable by RISE shall be exchanged for Resulting Issuer Shares based on a conversion price of C$0.05 per share; - Written confirmation from RISE that there are no ongoing debt obligations, not including trade payables, or interestbearing liabilities associated with the Company; - Written confirmation from each of the Company and Scientus that all conditions to the completion of the Transaction have been satisfied or waived, including the assignment and amendment of the Scientus Debt (as defined below), other than the release of the Escrowed Funds; - The receipt of audited financial statements of Scientus for the years ended December 31, 2018 and December 31, 2019; - The Resulting Issuer Shares being approved for listing on the CSE; and - The receipt of all regulatory, shareholder and third-party approvals, if any, required in connection with the Transaction

IS THE 3rd PARTY....COBRA VENTURES??? Deal may still be in effect, we will know soon enough.

[Amgamg67]

Thanks for posting the information, but I don't understand what's going on with this transaction. If someone can explain,that would be greatly appreciated. Thanks

[riozenga]

It looks like that the deal with Scientus is dead. World Class Extraction beat RISE to the punch and bought the debentures note out from underneath Scientus and RISE (and Canaccord). You gotta wonder why RISE and Canaccord could not raise $5M or $6M for this deal in four months. Maybe the investor did not have confidence in Scott, the rest of RISE management team or Scientus's management team

[Odinson]

I've been saying for a long time that this will fail. I expected that they would be done and gone by early January of this year but somehow they hung on. This business, with its various itterations has been a dismal failure. Look back at miraculins, luminor medical technologies and now rise life sciences ........ they share a common theme ...... failure. Some folks I've talked with wonder