Veritas Pharma announced it completed a Share Purchase Agreement for 100 percent ownership of Sechelt Organic Marijuana.
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.