Calgary, Alberta–(Newsfile Corp. – December 31, 2020) – SynerGenetics Bioscience Inc. (“SG” or the “Acquiror“) acquired 14,250,000 common shares (the “Common Shares“) in the capital of Discover Wellness Solutions Inc. (CSE: WLNS) (formerly RMMI Corp.) (“Discover Wellness” or the “Corporation“). The Corporation issued the Common Shares to the Acquiror as partial consideration for the contribution of premium high-CBD hemp flower and biomass (“Hemp Biomass”) from the Acquiror, in connection with a definitive purchase agreement dated October 14, 2020 for the contribution of up to 1,000,000 kilograms of Hemp Biomass from the Acquiror (the “Hemp Contribution Agreement”) (refer to press release dated October 15, 2020 for details of the Hemp Contribution Agreement).
Prior to the acquisition, the Acquiror did not own or control any Common Shares of the Corporation.
Immediately after the acquisition, the Acquiror owned and controlled 14,250,000 Common Shares, being approximately 26.92% of the issued and outstanding Common Shares.
The Common Shares acquired are subject to certain trading restrictions. The Acquiror reserves the right, directly or indirectly, to acquire ownership or control over additional securities in accordance with applicable securities legislation or from time to time to dispose of any securities of the Corporation that it may own.
A copy of the Early Warning Report will appear on the Corporation’s profile on SEDAR.
The address of the Acquiror is c/o Suite 305 South Tower, 5811 Cooney Road, Richmond, BC, V6X 3M1.
About SynerGenetics Bioscience Inc.
SG is a leading plant genetics technology company focused on the development of novel hemp strains with high-CBD content and other focused cannabinoid cultivars. SG utilizes genomic research and cutting-edge technology to produce hemp cultivars with the proven ability to provide 15%+ CBD content and <0.3% THC hemp flower in outdoor cultivation. SG was founded by principals with extensive experience in the hemp and genomic research industries. SG has a genetic library with 20+ novel strains of hemp under development with various cannabinoid and other characteristic outcomes.
About Discover Wellness Solutions Inc.
Discover Wellness (formerly RMMI Corp.) is a Canadian company licensed, through its subsidiary, to cultivate, produce, process and sell cannabis in various forms. The Corporation’s vision is to enhance shareholder value by establishing cost leadership in hemp processing and CBD extraction coupled with a global distribution strategy.
Peter Cheung, Interim Chief Executive Officer and Chief Financial Officer
[email protected]
403-910-9191
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/71254