AIM1 Ventures Inc. (TSX-V: AIMI.P) is pleased to announce that it has entered into a letter of intent effective January 4, 2018, to complete a qualifying transaction pursuant to which the Company will acquire all of the issued and outstanding securities of James E. Wagner Cultivation Ltd.
The Acquisition is expected to be structured as a three-cornered amalgamation and constitute a reverse takeover of the Company by JWC’s shareholders in accordance with the rules and policies of the TSX Venture Exchange. The Company intends that the Acquisition will constitute its Qualifying Transaction (as such term is defined in the policies of the Exchange). For the purposes of the Acquisition, it is intended that the shareholders of JWC will receive common shares of the Company in exchange for their common shares of JWC on the basis of one (1) AIM Share for each one (1) JWC Share, assuming completion of the AIM Consolidation.
Upon successful completion of the Acquisition, it is anticipated that the Company will be listed as a Tier 2 Industrial issuer operating as a licensed producer of medical cannabis.