MJ Harvest Signs Letter Of Intent To Merge With Cannabis Sativa, Inc.
MJ Harvest Signs Letter Of Intent To Merge With Cannabis Sativa, Inc.
MJ Harvest, Inc. (OTCQB:MJHI) signed a letter of intent to merge with Cannabis Sativa, Inc. (OTCPK: CBDS) The LOI provides for MJHI shareholders to receive 2.7 shares of CBDS common stock for each share of MJHI common stock held immediately prior to the merger.
MJ嘉实公司(OTCQB：MJHI)与Cannabis Sativa，Inc.签署了合并意向书。(场外交易代码：CBDS)意向书规定，MJHI股东在紧接合并前持有的每股MJHI普通股中，可获得2.7股CBDS普通股。
The LOI is non-binding except as to certain terms covering due diligence investigations, break-up provisions (including a $50,000 termination penalty), and a requirement that both companies operate in the ordinary course of business pending merger.
意向书不具约束力。除了某些条款，包括尽职调查、分拆条款(包括50,000美元的终止罚款)，以及要求两家公司在合并前在正常业务过程中运营。
Upon completion of the merger on the terms described in the LOI, it is anticipated that MJHI shareholders would own approximately 72% of the surviving company. The LOI contemplates that CBDS will be the surviving company in the merger and that following the merger, MJHI will cease to exist as a separate corporate entity. Management estimates that the shareholder meeting for the merger will be held in mid-July 2022.
在按意向书所述条款完成合并后，预计三菱重工的股东将拥有约72%的股份幸存下来的公司。意向书认为，CBDS将是合并中幸存的公司，合并后，MJHI将不再作为一个独立的法人实体存在。管理层估计，合并的股东大会将于2022年7月中旬举行。
In order to complete the merger, CBDS shareholders will be asked to approve an increase in the number of authorized shares of common stock of CBDS to 500 million shares. Following the merger, there would be approximately 160 million shares outstanding with approximately 44 million shares held by the original CBDS shareholders, and approximately 116 million shares held by the MJHI shareholders that receive stock in the merger.
为了完成合并，CBDS股东将被要求批准将CBDS普通股授权股数增加至5亿股。合并后，将有约1.6亿股流通股，其中约4400万股由原CBDS股东持有，约1.16亿股由在合并中获得股票的MJHI股东持有。
The combined business following the merger will have operations in seven states and a comprehensive product line that includes the Country Cannabis brand plus licensing arrangements for the Weedsy, BLVK, Chronic, and Sublime brands. MJHI also holds 10% investments in WDSY, LLC and Blip Holdings, LLC, the companies that own the Weedsy and BLVK brands, respectively. MJHI's current product offerings and the brands represented are reflected on the MJHI website.
合并后的合并业务将在七个州拥有业务和全面的产品线，其中包括国家大麻品牌加许可安排杂草、BLVK、慢性病和崇高品牌。MJHI还持有10%的投资WDSY，LLC和Bip Holdings，LLC，分别拥有Weedsy和BLVK品牌的公司。MJHI目前提供的产品和所代表的品牌都反映在MJHI网站上。
Upon signing the definitive merger agreement, both MJHI and CBDS expect to convert related party debt to equity resulting in the elimination of approximately $1.9 million and $1.42 million in related-party debt on the books of MJHI and CBDS, respectively.
在签署最终合并协议后，MJHI和CBDS预计将把关联方债务转换为股权，从而分别消除MJHI和CBDS账面上约190万美元和142万美元的关联方债务。
Following the merger, all operations will be consolidated in the surviving company. It is anticipated that the surviving company will report its financial results on a calendar year basis. It is also anticipated that the shareholder meeting to approve the merger will result in changes in the board of directors and officers of the surviving company, and a strong commitment to the cannabis industry. The existing PrestoDoctor telehealth operations of CBDS will be included in the combined results of operations following the merger. The telehealth operations will be integrated into the cannabis operations to provide synergies where appropriate.
在合并之后，所有业务都将整合到幸存的公司中。预计幸存的公司将按日历年度报告其财务业绩。还预计，批准合并的股东大会将导致幸存公司的董事会和管理人员发生变化，并对大麻行业做出坚定的承诺。CBD现有的PrestoDoctor远程保健业务将包括在合并后的业务合并结果中。远程保健业务将纳入大麻业务，以便酌情提供协同增效作用。
Photo: Courtesy of Richard T on Unsplash
图片：由Richard T在UnSplash上提供
译文内容由第三方软件翻译。