VANCOUVER, British Columbia, Nov. 5, 2019 /PRNewswire/ -- PRESS RELEASE -- Core One Labs Inc. is issuing this news release to clarify the terms of its definitive agreement to acquire Rainy Daze Cannabis, which was announced on Nov. 4, 2019.
The company has entered into a definitive agreement to acquire all of the issued and outstanding shares of 1210950 B.C. Ltd., an arms-length company operating as "Rainy Daze Cannabis." To acquire Rainy Daze, the company has agreed to pay $100,000 in cash to the current shareholders of Rainy Daze, and to issue an aggregate of 3,500,000 common shares of the company. The shares to be issued to the current shareholders of Rainy Daze are not expected to be subject to restrictions on transfer upon their issuance.
Closing of the acquisition of Rainy Daze is subject to the approval of the company's directors. The company's directors are currently conducting additional due diligence investigations with respect to the proposed acquisition.
