As quoted in the press release:
Under the terms of the Agreement, the Company will acquire SOM through the acquisition of the outstanding shares of the Vendor for the sum of Eight Hundred Thousand ($800,000) dollars (the “Purchase Price”), subject to any adjustments provided for in the closing agreement. At the closing of the transaction, VRT shall issue 1,454,545 VRT Shares to the Vendor.
VRT is satisfied with its due diligence investigation, which shall be deemed to have been fulfilled on signing of this Agreement.
The Vendor and SOM will provide access to, and will permit VRT, through its management and representatives, to make enquiries of the operations, properties, assets and records of SOM and of their financial and their legal condition as VRT deems necessary and advisable to familiarize itself with SOM’s operations, properties, assets, records and other matters on an ongoing basis until closing.
Some pretty important news out of health and wellness; beverage and natural products company BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) this week. For those of you following the Company with us, stay tuned.
The product will include polyphenols known to have significant health benefits.