Closes Investment in Psychedelic & Wellness Company MindBiO Vancouver, British Columbia – September 03, 2021 – Blackhawk Growth Corp. (CSE:BLR) (CNSX:BLR.CN) (Frankfurt:0JJ) (the “Company” or “Blackhawk”) has completed its previously announced investment in MindBio Therapeutics Pty Ltd. (“MindBio Therapeutics”).
“I am extremely excited to see us complete this transaction” says Frederick Pels, CEO of Blackhawk. “I look forward to working with the team at MindBio and building substantial value for our shareholders over the coming quarters.”
The Transaction
Pursuant to the terms of a share purchase agreement, dated August 30, 2021, the Company has acquired all of the outstanding share capital of 1286409 B.C. Ltd. (the “Parent”), of which MindBio Therapeutics is a wholly-owned subsidiary, and has issued 22,095,180 common shares to the existing shareholders of the Parent at a deemed price of $0.38 per share. Half of these shares are subject to restrictions on resale for a period of four-months-and-one-day following issuance. No finders’ fees or commissions were paid in connection with closing of the acquisition.
The Company is at arm's length from the Parent, MindBio Therapeutics and its shareholders. The transaction neither constitutes a fundamental change nor a change of business for the Company, nor has it resulted in a change of control of the Company within the meaning of applicable securities laws and the policies of the Canadian Securities Exchange. In connection with completion of the transaction, the Company will not be assuming any additional debts or obligations.
MindBio Therapeutics now forms part of the Company’s existing portfolio of investments in the health care sector. MindBio Therapeutics’s existing board and directors will continue to retain responsibility for overseeing day-to-day operations.
https://www.thenewswire.com/press-releases/1k49FdYG2-blackhawk-growth-closes-investment-in-psychedelic-and-wellness-company-mindbio-therapeutics-pty-ltd.html