Thoughtful Brands Inc PEMTF

Good news! No 50 to 1 reverse split. Canceled

[Acura001]

VANCOUVER, BC / ACCESSWIRE / March 8, 2021 / Thoughtful Brands Inc. (CSE:TBI)(FSE:1WZ1)(OTCQB:PEMTF) (the "Company" or "Thoughtful Brands) announces that the letter of intent with Franchise Cannabis Corp. ("FCC"), previously announced in January, has been terminated. The previously announced European joint venture with FCC will continue and allow the Company to launch and tailor its products to European consumer demands.

In connection with termination of the merger transaction with FCC, the Company has agreed to pay FCC $100,000 in cash and to issue FCC 5,000,000 common shares of the Company at a deemed value of $0.05 per share. The common shares will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.

Following termination of the transaction, the Company intends to apply to the Canadian Securities Exchange for the reinstatement of trading in its common shares under the existing ticker symbol "TBI".

[STOPpumpn]

aside from not diluting our shares, is TBI coming back online a better thing?

[LongTbuffet]

I thinking the timing is good for the industry. They should do better moving forward and perhaps take advantage of the recent market surge.

[Abito]

thats hugeee.. every current share holders would have been so screwed. would only have been good for tax loss selling if that went through.