Prior To The Transaction, Bfk Was A Capital Pool Company (as Defined Under The Policies Of The Tsx Venture Exchange (the Exchange)), And Had Not Commenced Commercial Operations And Had No Assets Other Than Cash.

(BFK)) (the Company), is pleased to announce that it has closed its previously announced business combination (the Transaction) with The Hydropothecary Corporation (THC) effective March 15, 2017. The marijuana Transaction consisted of the acquisition by the Company of all of the issued and outstanding common shares in the capital of THC by way of a three-cornered amalgamation, pursuant to which a wholly-owned subsidiary of the Company amalgamated with THC and each THC shareholder received six (6) post-consolidation common shares in the capital of the Company for each THC common share held. As part of the Transaction, the Company changed its name from BFK Capital Corp. to The Hydropothecary Corporation and the directors and management of THC became the directors and management of the Company. As a result of the Transaction, THC is now a wholly-owned subsidiary of the Company, and the Company will continue the business of THC which, through its wholly-owned subsidiary, 167151 Canada Inc., is licensed under the Access to Cannabis for Medical Purposes Regulations to cultivate and sell marijuana seeds and plants and dried marijuana product and to produce marijuana oils, marijuana resins and fresh marijuana products from its facilities located in Gatineau, Quebec. Prior to the Transaction, BFK was a Capital Pool Company (as defined under the policies of the TSX Venture Exchange (the Exchange)), and had not commenced commercial operations and had no assets other than cash. In connection with the Transaction, immediately prior to closing, BFK consolidated its common shares on the basis of one (1) post-consolidation common share for each one and a half (1.5) pre-consolidation common shares. The Transaction constituted BFKs Qualifying Transaction, as such term is defined in Policy 2.4 of the Exchange. Final acceptance of the Transaction will occur upon the issuance of a Final Exchange Bulletin by the Exchange. Upon issuance of the Final Exchange Bulletin, the Company will cease to be a Capital Pool Company and will recommence trading on the Exchange as a Tier 1 life sciences issuer.

To read more visit

Share This Post

Recent Articles

© 2021 Grow Legal Cannabis. All rights reserved. Site Admin · Entries RSS · Comments RSS
Home   |   Privacy Policy