Cannagistics Inc. (OTCPK:CNGT) entered into a binding letter of intent to acquire Recommerce Group, Inc. on January 26, 2021. Cannagistics will acquire Recommerce and related subsidiaries and assets, as a wholly owned subsidiary, and as part of a corporate reorganization of Cannagistics. It is expected that the new holding company will be known as iRecommerce Technologies, Inc. Darren Krantz, President and Chief Executive Officer of Recommerce will become the President and Chief Executive Officer of the new holding company, iRecommerce Technologies, Inc. The closing is based upon completion of proper due diligence by the parties and agreement on definitive documents as well as the necessary funding being in place. The closing is to be targeted to take place on or about March 31, 2021. Pursuant to the letter of intent, both parties may extend the date of closing upon mutual agreement. As of April 5, 2021, Cannagistics and Recommerce have agreed to extend the closing date to on or before, but no later than May 15, 2021.