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Trusted Brand 2016 Inc. Signs Letter of Intent for Possible Transaction
Trusted Brand 2016 Inc. Signs Letter of Intent for Possible Transaction Canada New...
About this update from Yorkton Equity Group Inc
[{"type":"text","content":"\n\n\n\nTrusted Brand 2016 Inc. Signs Letter of Intent for Possible Transaction\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Feb. 20, 2018\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES/\n\n\n\nCALGARY, Feb. 20, 2018 /CNW/ - Trusted Brand 2016 Inc. (\"Trusted Brand\" or the \"Corporation\") (TSX-V: HAH.P), is pleased to announce that it has entered into a non-binding letter of intent (the \"LOI\") with an arm's length private company (the \"Target\"). The Target has offers to purchase three ACMPR (Access to Cannabis for Medical Purposes Regulations) stage 5 licensees in Ontario and one stage 4 licensee in Alberta for a total of 372,500 square feet of production space. These acquisitions are expected to close prior to the completion of the Transaction (as defined herein).\n\nPursuant to the LOI, the Corporation, subject to entering into a definitive agreement (the \"Transaction Agreement\"), has agreed to combine with the private company by way of share exchange, merger, amalgamation, arrangement, or other similar form of transaction (the \"Transaction\").  \n\nThe Transaction is an arm's length transaction and, when completed, may be considered to be the Qualifying Transaction for the purposes of the TSX Venture Exchange Inc. (\"TSXV\").  The Corporation has requested its common shares (\"Shares\") continue to be halted by the TSXV pending review of materials for the Transaction.\n\nTrading in Trusted Brand Shares on the TSXV is halted and are expected to remain so until mid-March 2018 at the earliest.\n\nThis is an initial press release. The Corporation plans to issue a further press release once it has entered into the Transaction Agreement to provide, among other things, selected financial information respecting the private company and the Transaction.\n\nSubject to satisfaction or waiver of the conditions precedent referred to herein, Trusted Brand anticipates the proposed Transaction will be completed prior to May 31, 2018.\n\nTrusted Brand, a capital pool company...