Icanic Brands Co. Inc. (CSE: ICAN, OTC: ICNAF), the company behind Tarantula, wants to buy THC Engineering LLC for $1.75 million.
THC Engineering is a company that works on creating automation technology to support the cannabis manufacturing sector.
Icanic's letter of intent allows THC Engineering to earn extra purchaser shares via milestone earnouts. The first milestone achievement grants it $500,000 of purchaser shares, the second $1.75 million.
Once both milestones are achieved, THC Engineering can earn $500,000 of purchaser shares.
The Purchaser Shares will be locked up until Dec. 31, 2021, after which the company will obtain them in 4 …