October 12, 2020

Timelines: Agricann History

by agricannadmin in

Entered into a binding Letter of Intent with Sticky Leaf Cannabis (“SLC”) whereby SLC has granted the Company a one-year irrevocable option to acquire 100% of SLC. The acquisition will be based on the agreed valuation of SLC at the time the option is exercised and will be completed through the issuance of the Company’s shares valued at $0.50 per share for each $0.50 of retail sales, such that SLC is acquired at 1x sales. Under the LOI, the Company will fund SLC’s existing and planned licensed Cannabis Retail Stores through a series of promissory notes.