Canadian cannabis retailer Kiaro Holdings Corp. (TSXV: KO) has wrapped up a transaction with Aegis Brands Inc. to acquire its subsidiary, 2734524 Ontario Inc., which is doing business as Hemisphere Cannabis Co.
The Deal Details
The acquisition includes a portfolio of seven Ontario-based retail locations and an additional two locations, subject to potential future development.
Under the terms of the agreement, Kiaro issued to Aegis 61.3 million of its common shares and 6.7 million common share purchase warrants. Each warrant gives holders the right to acquire one additional share of Kiaro at 16 cents per share, subject to customary adjustments.
Aegis is also entitled to receive a further 6.7 million of Kiaro's shares once it achieves certain commercial milestones in relation …