Canna 8 Investment Trust (TSXV:RCR.P) entered into a letter of intent to acquire RealCanna Investment Trust on July 30, 2019. Pursuant to the transaction (i) the outstanding units of Canna 8 will be consolidated on the basis of a consolidation ratio to be determined by RealCanna and Canna 8 in the context of the closing of the Concurrent Private Placement and (ii) the holders of RealCanna units (including those investors in the Concurrent Private Placement) will receive one unit of the Resulting Issuer in exchange for each outstanding RealCanna unit (on a post-Consolidation basis). Follow the transaction, Canna 8 and RealCanna will ultimately form the resulting issuer (the “Resulting Issuer”) that will continue on the business of RealCanna and Dean Parmar, Trustee and Chief Executive Officer, Paul Van Damme, Trustee and Chief Financial Officer, Lawrence Guy, Trustee, Shant Poladian, Trustee and Jacob Goldschmidt, Trustee will be the board of trustees and executive officers of the Resulting Issuer. Completion of the transaction is subject to a number of conditions including, completion of satisfactory due diligence, completion of the Concurrent Private Placement, execution of a definitive agreement, receipt of requisite regulatory approvals, acceptance of the transaction as Canna 8’s Qualifying Transaction by the TSXV, receipt of all requisite approvals from majority of the minority approval from the Canna 8 unitholders and RealCanna unitholders, acquisition of the Calgary Property by RealCanna and the completion of all other actions necessary to consummate transaction. The final structure of the transaction is subject to receipt of tax, corporate and securities law advice for both Canna 8 and RealCanna. Subject to TSX Venture Exchange approval, it is intended that the transaction will constitute Canna 8’s “Qualifying Transaction”. Canna 8 Investment Trust (TSXV:RCR.P) cancelled the acquisition of RealCanna Investment Trust on March 17, 2020. The letter of intent to acquire RealCanna Investment Trust expired.