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Anacott Announces Qualifying Transaction With Botanical Holdings
Anacott Announces Qualifying Transaction With Botanical Holdings Canada NewsWir...
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[{"type":"text","content":"\n \n \n \n Anacott Announces Qualifying Transaction With Botanical Holdings\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n WINNIPEG, MB\n \n ,\n \n Oct. 26, 2021\n \n /CNW/ - Anacott Acquisition Corporation (TSXV: AAC.P) (the \"\n \n Company\n \n \" or \"\n \n Anacott\n \n \") is pleased to announce that it has entered into a Letter of Intent dated\n \n October 25, 2021\n \n with Botanical Holdings PLC (\"\n \n Botanical Holdings\n \n \"), to enable Botanical Holdings to complete a going-public transaction in\n \n Canada\n \n (the \"\n \n Proposed Transaction\n \n \").\n \n \n \n ABOUT BOTANICAL HOLDINGS\n \n \n \n Botanical Holdings is a dynamic investment holding company which is focused on the legal medical cannabis chain. Botanical Holdings has secured a number of unique investment opportunities in the rapidly growing global cannabis market. Botanical Holdings aims to create a diversified and risk adjusted portfolio of companies that spans the cross-section and value chain of the medical cannabis market. Botanical Holdings currently has holdings in Eurocan, a producer of high-quality medical cannabis products and extracts, with operations in\n \n Portugal\n \n and\n \n Lesotho\n \n ; Southern African Hemp, a hemp cultivation site in\n \n Zimbabwe\n \n ; and Unearthed, a producer of consumer CBD products, including a line of high-quality CBD extracts.\n \n \n \n TERMS OF THE PROPOSED TRANSACTION\n \n \n \n For the purposes of the Proposed Transaction, the deemed value of the currently outstanding common shares of Anacott (\"\n \n Anacott Shares\n \n \") will be\n \n $800,000\n \n . Pursuant to the Proposed Transaction, it is currently intended that: (i) the outstanding Anacott Shares will be consolidated on the basis of a ratio that results in the aggregate number of post-consolidation Anacott Shares multiplied by\n \n $0.35\n \n , being the issue price of the Subscription Receipts offered in the Concurrent Offering (each as defined below), being equal to\n \n $800,000\n \n , subject to rounding (the \"\n \n Consolid...