RE:RE:RE:RE:RE:CALLING Inner Spirit. On January 9, 2018, the Company entered into an investment agreement and strategic alliance agreement with Inner Spirit pursuant to which it acquired 15 million common shares of Inner Spirit and was granted exclusive rights to supply up to 50% of Inner Spirit’s annual inventory requirements for any cannabis, cannabis-infused or cannabis-derived products to be sold at its retail dispensaries, with a mutually agreeable profit-sharing arrangement. Inner Spirit is the parent company of Spirit Leaf, which franchises retail cannabis dispensaries across Canada. The transaction closed on February 7, 2018. Pursuant to the investment agreement, the Company was granted pre-emptive rights which it has subsequently exercised to acquire an additional 10,941,177 shares and 4,191,177 warrants of Inner Spirit for approximately $1.5 million. Each common share purchase warrant of Inner Spirit entitles the holder to purchase one common share at an exercise price of $0.30 per common share for a period of 24 months following the date of issuance.
• Executive Appointment. On June 8, 2017 Hugo Alves was appointed as President of the Company and appointed to the Board.
Acquisitions, Dispositions, Investments, Partnerships and Cannabis Supply Arran