Heritage Cannabis Holdings said it now indirectly owns 100% of the issued and outstanding shares in the capital of Voyage Cannabis, a holder of various Health Canada cannabis licenses, through a share cancellation acquisition with Estek Ventures Corp.
As consideration for the cancellation of 500 Class A Voting Common Shares and 400,000 Class G Non-Voting Preferred Shares in the capital of Voyage Cannabis, the company has issued Estek Ventures 2,000,000 Common Shares at a price of CAD$0.06 per share plus an additional CAD$50,000 in cash. The amount paid satisfies all redemption rights that Estek Ventures Corp. had pursuant to the company’s original acquisition of Voyage Cannabis Corp. and any additional claims that Estek Ventures could have had against Heritage and its affiliates as the 25% owner of Voyage Cannabis.
Debra Senger has resigned as a director and officer of Voyage Cannabis.
The company has also entered into a settlement agreement with the original shareholders of Purefarma Solutions to settle all outstanding obligations of Heritage to the Original Purefarma Shareholders pursuant to the terms of a share exchange agreement and share purchase agreement each dated December 7, 2018.