Pure Extracts Technologies Corp. (OTCPK:PRXTF) (CSE:PULL) (XFRA:A2QJAJ) has entered into a definitive business combination agreement dated May 1, 2023 with PL Healthcare Management Ltd. and 1411062 B.C. Ltd. ("subco"), a wholly-owned subsidiary of the company, pursuant to which the company will acquire all of the issued and outstanding shares of PLM.
In accordance with the terms and conditions of the definitive agreement, the transaction will be completed by way of a three-cornered amalgamation, whereby, among other things: subco will amalgamate with PLM to form an amalgamated company ("amalco"); each issued and outstanding common share of PLM will be exchanged for five common shares of the company; and amalco will become a wholly-owned subsidiary of the company. In advance of closing of the transaction, Pure will carry out a consolidation of its common shares on a 10:1 basis, such that, upon the completion of the transaction, it is expected that existing shareholders of the …