Geyser Brands Inc. (TSXV:GYSR) (‘Geyser’) entered into a non-binding letter of intent to acquire all of the issued and outstanding shares Solace Management Group Inc. (‘Solace’) from CWS Clean Water Solutions Inc. and other shareholders for CAD 4.5 million on February 8, 2019. As on May 15, 2019, Geyser Brands Inc. entered into a share purchase agreement to acquire all of the issued and outstanding shares Solace Management Group Inc. The purchase consideration comprises CAD 0.4 million in the form of a promissory note and issuance of 5,833,333 common shares of Geyser. Certain consideration shares may be subject to escrow in accordance with Exchange policies. For the fiscal year ended September 30, 2018, Solace Management Group Inc. had net income of CAD 0.27 million. At closing, the Board of Directors of Solace will comprise of seven members, or such other number as may be agreed, with Geyser having the sole right to nominate the directors. The transaction is subject to Geyser being satisfied with its due diligence review of Solace, receipt of all necessary consents including third party consents, regulatory approval, board approvals of Geyser and Solace, approval by Geyser shareholders (if required), TSXV Exchange approval, receipt of an independent valuation report of Solace if required, satisfaction of any Exchange requirements, parties negotiating and entering into a definitive binding agreement, termination of licensing agreement with Apawthecary Pets, termination of the Apawthecary Lease, satisfactory completion of employment agreements and Solace providing audited financial statements if required by the exchange. As of August 6, 2019, the TSXV Exchange has conditionally approved the transaction. The transaction is expected to close at the end of August 2019. Timothy W. Murphy from Murphy & Company LLP served as the legal advisor to Geyser Brands Inc. Michael Stunden of Stunden Law acted as the legal advisor to Solace Management Group Inc. AST Trust Company (Canada) served as Geyser registrar and transfer agent in connection with the transaction.