Atlas Global Brands Inc. (CSE:ATL), (formerly Silver Phoenix Resources Inc.) announced that, through its Israeli subsidiary, signed a binding letter of intent at an arm’s length with no finder’s fee, on January 11, 2023, to acquire 51% of the outstanding securities of the following entities :
An Israeli licensed cannabis “Trading House”, located in Tel Aviv. If the transaction is completed, the company plans to use this “Trading House”, as its hub for the import, storage and distribution of cannabis in Israel. A “Trading House” is an entity licensed to purchase, trade and store cannabis.
Two pharmacies licensed to dispense medical cannabis, one in Tel Aviv and the other in Jerusalem.
The proposed transaction will be structured as a share exchange pursuant to which the vendors will be issued an aggregate of 2.7 million …