HyperScale Nexus Holding Corporation entered into an Agreement and Plan of Merger to acquire American Cannabis Company, Inc..

HyperScale Nexus Holding Corporation entered into an Agreement and Plan of Merger to acquire American Cannabis Company, Inc. (OTCPK:AMMJ) on September 5, 2023. Each three hundred shares of AMMJ common stock will be exchanged for one share of HyperScale Nexus common stock based on an exchange ratio of 300 to 1. Pursuant to the terms of the Merger Agreement, AMMJ will be a wholly owned subsidiary of HyperScale Nexus. Transaction has been unanimously approved by the board of directors of both the companies and recommended the adoption of this Agreement by the stockholders.

In case of certain circumstances, if the agreement is terminated then American Cannabis will pay $0.1 million to HYPERSCALE NEXUS HOLDING as a termination fee. Pacific Stock Transfer Company acted as transfer agent to American Cannabis. As per filling on September 27, 2023, both parties agreed to extend the time to complete the transaction for an additional sixty days until November 29, 2023.

On November 30, 2023, the parties agreed to extend the time to complete the transaction for a period ending June 30, 2024.