Lifeist Wellness Inc V.LFST

RE:RE:RE:RE:Bids Stacking Up!!

[Camper8]

Terms of the Contemplated Transaction

Upon execution of the LOI, Namaste paid $50,000 (the "Initial Payment") in cash to CannMart's counsel, to be held in trust and released upon closing of the Contemplated Transaction. If Namaste does not provide CannMart with notice of completion of its due diligence within 30 days of the execution of the LOI, the Initial Payment will become non-refundable. The parties anticipate signing a definitive agreement in mid-late April.

Consideration for the Contemplated Transaction will be satisfied with common shares in the capital of the Company. A portion of common shares of the Company will be issued on closing of the Contemplated Transaction, and the remaining common shares of the Company will be issued upon the occurrence of certain milestones. The share price shall be the five-day trailing volume weighted average price prior to the day on which the Company announces the Contemplated Transaction, subject to compliance with all stock exchange and regulatory requirements.

Clarus Securities Inc. is acting as financial advisor to Namaste in connection with the Contemplated Transaction.

 

Read more at https://www.stockhouse.com/news/press-releases/2017/03/21/namaste-enters-into-non-binding-loi-with-cannmart-a-late-stage-acmpr-applicant#XSUlMfxBOlu4dO5I.99

https://www.stockhouse.com/news/press-releases/2017/03/21/namaste-enters-into-non-binding-loi-with-cannmart-a-late-stage-acmpr-applicant

The lower the average five day share price, the more shares Cannmart will receive.