PumperStalker wrote: MORE CHEAP PAPER TO COME OUT.. Crazy dilution and waitago on accelerating the warrants when nobody knew the deal was happening..
Under the terms of the agreement, shareholders of CannaCure will receive 100 million shares of Heritage with an additional 33 million units subject to an escrow release upon certain milestones in exchange for 100% ownership of CannaCure to Heritage. The transaction is scheduled to close on or before September 28, 2018, and is subject to several conditions including the completion of due diligence, a definitive agreement, regulatory approval, as well as Heritage obtaining a minimum of $7.5 million for expansion purposes.
Upon completion of this transaction, the board of directors of Heritage will be increased to five members, with CannaCure naming two people (to be determined) to the board.
Patrick Gagne, Co-founder and Director of CannaCure says "The team at CannaCure is very excited about our future with Heritage, and we are especially looking forward working with the team at PhyeinMed to shares ideas and contribute to developing best practices."
A finders and advisory fee will be paid, representing up to 3% of the transaction.
Also, the Company wishes to advise the acceleration of the expiry date of the share purchase warrants dated August 30, 2017.
The share purchase warrants were issued in connection with a private placement of units, with each share purchase warrant being exercisable into one additional common share of the Company at a price of $0.10 per share until August 30, 2019 (the "Warrants").
The Warrants were subject to the right of the Company to accelerate the expiry date of the Warrants if the Company's common Shares trade at a price equal to or greater than $0.20 on the Canadian Securities Exchange (the " CSE ") (or such other market as the Shares may trade from time to time) for ten (10) consecutive trading days, the Company shall have the right to accelerate the expiry of these Warrants to the date which is 30 days following the day on which written notice is given by the Company to the Holder of such acceleration. The Warrants may be exercised by the Holder during the 30 day period between the notice and the expiration of the Warrants.
The expiry date of the Warrants has now been accelerated to August 27, 2018.
In order to exercise your Warrants, you are required to complete and submit the Notice of Exercise attached to your respective warrant certificate on or before 5:00 pm on August 27, 2018. For detailed exercise requirements, please refer to your Warrant Certificate.
RODBUSTER wrote: Yeah but guru, you forgot to copy and paste the rest of the news LOL