RE:RE:It is better to cut costs now than later , good move still need 1.7 mill plus shares etc to close GT. Don't listen to let's fly this - never go full retard.
Pursuant to the Amending Agreement, the purchase price to acquire a 75% membership interest in GT has been reduced from US$18 million to US$9 million and excludes certain assets and the planned purchase of GT properties which had been intended for cannabis cultivation.
The US$9 million purchase price will be paid as follows:
(i) US$3,000,000 due and payable on or before 18 months after closing to GT, of which the Company has already advanced approximately US$1.3 million;
(ii) US$4,000,000 in shares to be issued to the sellers at a price which is the lesser of (i) US$0.27 per share, or (ii) the 20-day volume VWAP due upon closing;
(iii) US$2,000,000asconvertiblepromissorynotestothesellerswith US$1,000,000ofwhich shall mature 12 months from closing, and $1,000,000 of which shall mature 24 months from closing.