Turnium Technology Group Inc Cl A V.RMSP

RMR Science Technologies Inc. Announces Conditional Approval

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RMR Science Technologies Inc. Announces Conditional Approval of Qualifying Transaction

 

PRESS RELEASE PR Newswire

 Jun. 4, 2019, 01:00 PM

 

/NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

VANCOUVER, June 4, 2019 /CNW/ - RMR Science Technologies Inc. ("RMR" or the "Corporation") (TSXV: RMS.P) is pleased to announce it received conditional approval from the TSX Venture Exchange (the "TSXV") for its previously announced Qualifying Transaction ("QT") with canngen Biosciences Inc. ("canngen"). RMR is also pleased to announce it entered into a definitive agreement dated May 30, 2019 (the "Definitive Agreement") with canngen and the holders ("canngen Shareholders") of canngen common shares ("canngen Shares") in respect of the QT.

Pursuant to the Definitive Agreement, RMR will acquire all of the outstanding canngen Shares from the canngen Shareholders in exchange for issuing an aggregate of 7,500,000 Class A common shares in the capital of RMR ("RMR Shares") to the canngen Shareholders on the basis of one RMR Share for every one canngen Share. The Definitive Agreement contains such covenants, conditions and indemnities as are customary in a transaction of this nature and having regard to the business or RMR and canngen including, without limitation, receipt of all applicable regulatory approvals and completion of RMR's previously announced private placement (the "Private Placement").