CBD Global Sciences Inc. (CNSX:CBDN) executed a binding letter of intent to acquire Pure BioPlastics Inc. on March 21, 2022. The transaction consists of the issuance of cash and both Class A Common Shares (“Common Shares”) and Series A Preferred Shares (“Preferred Shares”) of CBD Global as milestone achievements are achieved over the subsequent 2 years. Pure BioPlastics Inc.'s essential leadership will continue working on this project, post-transaction, including Ed Lehrburger, Carl Lehrburger, Dhrubo Dey Laskar and Harry Cullinan.

The transaction is subject to definitive agreement and final due diligence, to be completed on or before April 1, 2022. Closing is anticipated to occur on or before April 15, 2022.