SOL Global's CannCure And Goldstream To Sign Business Combination Agreement

SOL Global Investments Corp SOLCF and Goldstream Minerals Inc GSX recently announced that Goldstream and CannCure Investments Inc, a portfolio company of SOL Global, have entered into a definitive business combination agreement which, subject to certain conditions will result in a reverse takeover of Goldstream by CannCure.

The resulting issuer from the Proposed Transaction will sustain the business of CannCure as a U.S. multi-state cannabis company. Brady Cobb will step down as CEO and a director of SOL Global will lead the new MSO. Closing of the proposed transaction is anticipated to happen in April.

The combination agreement includes a number of other conditions, including but not limited to:

• the consolidation of Goldstream’s common shares on a 23.3053:1 basis, the issuance of post-Consolidation Goldstream common shares to holders of CannCure common shares on a 1:1 basis;
• The continuance of Goldstream into the province of British Columbia;
• The entering into of lock-up agreements by certain CannCure shareholders, officers and directors;
• CannCure obtaining a $15 million construction loan from an arm’s length third party lender or completing an alternative financing to ensure sufficient funding for the MSO operations following closing;
• The approvals of all regulatory bodies having jurisdiction in connection with the Proposed Transaction, including, without limitation, approval from the Florida Department of Health, Office of Medical Marijuana Use; and
• Ather closing conditions customary to transactions of the nature of the Proposed Transaction.