PureSinse Inc. entered into a letter of intent to acquire Royal Sapphire Corp. (TSXV:RSL) in a reverse merger transaction on March 16, 2018. PureSinse Inc. entered into a definitive amalgamation agreement to acquire Royal Sapphire Corp. (TSXV:RSL) in a reverse merger transaction on May 17, 2018. Royal Sapphire will consolidate the shares on the basis of 2.:1. As per the amalgamation agreement, the holders of the issued and outstanding common shares of PureSinse shall receive one post-consolidation common share in the capital of Royal Sapphire Corp. for each PureSinse share held. Royal Sapphire will change its name to Pure Global Cannabis Inc. and will adopt "PURE" as the new trading symbol. Royal Sapphire Corp. will complete a financing of subscription receipts at a price of CAD 0.33 per subscription receipt, for minimum aggregate gross proceeds of CAD 8 million. In addition, Royal Sapphire intends to complete a financing a minimum of CAD 2 million of 8% unsecured convertible notes, which will automatically convert into post-consolidation company shares at CAD 0.33 per company share immediately prior to the completion of the transaction. Upon completion of the transaction, Royal Sapphire will have approximately 145.74 million company shares issued and outstanding, of which approximately 75.48 million of the issued and outstanding company shares will be held by the former shareholders of PureSinse. On closing of the transaction, the resulting issuer's Board of Directors will be reconstituted to be comprised of five directors. The initial Board of Directors will include Malay Panchal, Dr. Chandrakant Panchal, Albert Beraldo, Brian O’Neill and Jane Pagel. Royal Sapphire has appointed Jay Sujir, Thomas O’Neil and Verlee Webb to the Board of Directors of Royal Sapphire. Thomas O’Neil has been appointed as the Chief Executive Officer. Pursuant to the amalgamation agreement, it is anticipated that the Board of Directors of Royal Sapphire shall be reconstituted to consist of five board members. Malay Panchal, Chandra Panchal (Chairman) and Albert Beraldo will be three of the board nominees and the remaining nominees will be determined prior to closing of the transaction. In addition, Royal Sapphire shall reconstitute its management team, such that all existing officers will resign, Malay Panchal will be appointed Chief Executive Officer and Bhupender Gosain will be appointed Chief Financial Officer of the company. The transaction is subject to a number of conditions including PureSinse shareholder approval, TSXV approval, financing done for the deal should be completed, and holders of no more than 27% of the PureSinse shareholders shall have exercised dissent rights. The deal has been approved by boards of directors of PureSinse Inc. and Royal Sapphire Corp. Computershare Investor Services Inc. acted as the transfer agent and Manning Elliott LLP acted as the auditor to Royal Sapphire on the transaction. Geoffrey Cher, Jeff Hergott, Amir Torabi and Alexandra Meffe of Wildeboer Dellelce LLP acted as legal advisor to PureSinse Inc. PureSinse Inc. completed the acquisition of Royal Sapphire Corp. (TSXV:RSL) in a reverse merger transaction on July 5, 2018.