LGC Capital (TSXV:LG) announced the TSX Venture Exchange conditionally approved their proposed transaction with the Tricho-Med Corporation (doing business as AAA Trichomes).
As quoted in the press release:
LGC wishes to report that its due diligence review of AAA Trichomes has been completed, all major deal points have been agreed upon, and the remaining technical details are being finalized. Closing documentation is being prepared and LGC expects to sign the principal loan documentation with AAA Trichomes in the next few days, which will then be held in trust pending final TSX Venture Exchange approval. In order to obtain final approval for the transaction from the TSX Venture Exchange, LGC must file various documents, which it expects to do within the next few days.
AAA Trichomes is planning to build a large new cannabis processing facility in the Province of Québec, to be built in three phases. Construction is expected to start within a few weeks of the closing of the transaction with LGC.