CannaOne Technologies Inc. (CNSX:CNNA) has entered into a memorandum of understanding to acquire 51% stake in Arkin Technologies Pty Ltd for AUD 1.2 million on March 8, 2021. CannaOne Technologies Inc. (CNSX:CNNA) has signed a definitive share purchase agreement to acquire 51% stake in Arkin Technologies Pty Ltd on April 26, 2021. Under the terms of transaction, CannaOne has agreed to pay to the consideration to current shareholders of Arkin through the issuance of CannaOne stock priced at a 20% discount to the market trading price of the stock at the closing date of the proposed Arkin transaction. The shares issued will be subject to certain pooling restrictions to be agreed, over a one year period from closing. Additionally, shareholders of Arkin will be granted warrants to purchase up to an additional 250,000 shares of the Company at an exercise price per share based on the closing market bid price on the date of closing. The warrants will a have a 24- month term. On closing, CannaOne Technologies Inc. will pay 0.083577 million shares Finders’ fees may be payable in connection with the transaction in accordance with the policies of the Canadian Securities Exchange. The completion of the transaction is subject to certain conditions, including the execution of definitive documentation, all necessary regulatory and shareholder approvals and other customary closing conditions. The transaction is expected to close on or before April 30, 2021. Transaction seems to be accretive and have the potential to increase the value of each participant. CannaOne Technologies Inc. (CNSX:CNNA) completed the acquisition of 51% stake in Arkin Technologies Pty Ltd on April 30, 2021. The Company issued an aggregate of 1,114,364 common shares of the Company and 250,000 share purchase warrants at a price per Share of AUD 1.17.