Burton Growers Ltd. & Green Sight Agri-Holdings Inc. entered into a non-binding letter of intent to acquire Asia Green Biotechnology Corp. (CNSX:ASIA) for CAD 4 million in a reverse merger transaction on February 21, 2024. Pursuant to the LOI, ASIA will issue to the shareholders of Burton Growers and Green Sight, 200,000,000 common treasury shares in exchange for all of the issued and outstanding common shares of Burton Growers and Green Sight. On closing of the Transaction, the shareholders of Burton Growers and Green Sight will respectively own approximately 42% of Asia Green's common shares. After closing of the Transaction, senior management of the Company will be members of the current management teams of Burton Growers and Green Sight. Igor Kovalchuk, a current director of Asia Green, will continue in that role and will provide a direct oversight and administration of the scientific trial activities concerning certain strains of cannabis to which Asia Green holds an exclusive licence.

It is a condition of the closing of the Transaction that a private placement financing of between CAD 500,000 to CAD 1,500,000 be completed. Additional conditions, including the execution of a formal agreement, shareholder approval and receipt of regulatory approval, must be met in order for the Transaction to close.