Halo Collective Inc. (OTCPK:HCAN.F) entered into a agreement to acquire Phytocann Holdings SA for €100 million on April 28, 2022. As per the terms of the transaction Halo is offering upfront consideration of €12.2 million with a further potential earn-out of up to €87.8 million in debt. the upfront Consideration would be paid partially in shares of Halo, equal to 24% of the issued and outstanding Halo shares at the time of signing definitive agreement in respect of the Planned Acquisition with the remaining part of the Upfront Consideration to be paid by way of a vendor note which matures upon the date falling two years following completion of the Planned Acquisition and the The Earn-Out Consideration shall be calculated based on a multiple of the EBITDA and revenues of the PIH during an agreed period following the closing of the Planned Acquisition. The Earn-Out Consideration shall be paid by way of a note which matures upon the date falling two years following completion of the Planned Acquisition. Following the acquisition of Phytocann, Halo management is expecting to create two separate companies under Halo Collective, a THC focused entity, and a non-THC focused entity. Alexandre-Henri Lacarré, the founder of Phytocann and a successful European entrepreneur, is expected to lead PIH as its CEO upon closing of Planned Acquisition. Completion of the Planned Acquisition is subject to entering into of the Definitive Agreement, approval of Regulatory authority and the satisfaction or waiver of all closing conditions. the transaction is expected to close in the next 90 days.