Creso Pharma Limited (ASX:CPH) signed a letter of intent to acquire Brand and Product Portfolio Assets of ImpACTIVE on March 9, 2021. Creso Pharma Limited entered into an asset purchase agreement to acquire to acquire Brand and Product Portfolio Assets of ImpACTIVE on October 24, 2021. Under the Agreement, Creso to issue: (i) CAD 0.2 million of fully paid ordinary shares, valued at CAD 0.10 per Creso Share of Creso to ImpACTIVE immediately; and (ii) subject to ASX and shareholder approval, a further 6 million performance shares, with 3 million performance shares converting into Creso Shares upon reaching CAD 20 million in audited gross sales revenue in 36 months, and another 3 million performance shares converting into Creso Shares upon reaching CAD 40 million in audited gross sales revenue within 60 months. Creso conducted its due diligence on the ImpACTIVE Assets. The agreement is subject to standard conditions for an agreement of this nature including the entry into the Employment Agreements with Brett Ayers and Kevin Tansey. Creso Pharma intends to hold a general meeting in December 2021 to approve the issue of the performance shares. The completion of the transaction follows the issue of 1.965455 million shares to the ImpACTIVE of the assets of ImpACTIVE Holdings Ltd per the Appendix 2A released on October 25, 2021.