MPX International Corporation (CNSX:MPXI) entered into an agreement to acquire 51% stake in First Growth Holdings (Pty) Ltd. on June 11, 2019. The transaction is subject to subject to the completion of due diligence as well as definitive documentation. Upon First Growth achieving the applicable milestones, MPXI will issue warrants in MPXI to the current shareholders of First Growth up to an exercise value of $5 million (CAD 6.6 million). MPXI Warrants will be issued as follows: $0.5 million (CAD 0.66 million) upon receipt by First Growth of a cultivation, import and export license from South African Health Products Regulatory Authority (“SAHPRA”) with an exercise price determined as the five-day volume weighted average price of the common shares of MPXI on the CSE as of the date of the definitive agreements, $0.5 million (CAD 0.66 million) upon receipt by First Growth of a cultivation, import and export license from SAHPRA, $1 million (CAD 1.33 million) upon successful cultivation and processing of 1,000 kg of Good Agricultural and Collection Practice grade dried flower suitable for delivery to a 3rd party extraction facility, $1.5 million (CAD 1.99 million) upon successful cultivation and processing of 10,000 kg of GACP grade dried flower suitable for delivery to a 3rd party extraction facility, $0.5 million (CAD 0.66 million) upon receipt First Growth of an extraction and manufacturing license from SAHPRA and $1 million (CAD 1.33 million) upon successful delivery of 100 kg of EU-GMP grade cannabis extract through the First Growth processing facility. MPX International Corporation (CNSX:MPXI) completed the acquisition of an 80% stake in First Growth Holdings (Pty) Ltd. for approximately CAD 0.51 million on February 19, 2020. The remaining 20% is held by Simonsberg Cannabis Pty Ltd.