Venerable Ventures Plans To Acquire Kapoose Creek Wellness In An All-Share Transaction

Venerable Ventures Ltd. (TSXV: VLV) announced on Wednesday night its letter of intent to acquire all of the outstanding share capital of wellness product development company Kapoose Creek Wellness Ltd. Prior to the closing of the acquisition, the company also intends to apply for a Canadian Securities Exchange listing.

Under the terms of the proposed transaction, all outstanding Kapoose common shares will be exchanged for an equivalent number of shares in Venerable Ventures. Currently, Kappose has 117,964,846 common shares outstanding, along with 49,664,846 share purchase warrants exercisable at a price of $0.30 and 11,650,000 incentive stock options exercisable at an average price of $0.16.

The company also plans to list its common shares on the CSE and delist from the TSX Venture prior to the closing of the transaction. Further, it will be expected that the company will change its name to “Kapoose Creek Wellness Ltd.” and will revamp its board and management to consist of nominees of Kapoose.

TSX Venture’s approval of the voluntary delisting and the CSE’s conditional acceptance of the listing are two of the conditions needed to satisfy to close the transaction, among other regulatory approvals and customary closing conditions.

Following the announcement, trading of Venerable Ventures shares on the TSX Venture has been halted since Wednesday. The company last traded at $0.115.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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