Hemp Technology Inc. (OTCPK:HPTY) entered into an asset purchase agreement to acquire non-operating assets from Cannary Packaging, Inc. for CAD 11.9 million on May 2, 2020. Pursuant to the agreement, Hemp Technology will issue its 21,852,907,580 unregistered restricted common shares of newly-issued common stock to existing shareholders of Cannary. In a related transaction, Hemp Technology have also entered into a bulk sale agreement. The transaction closing is subjected to receipt of the approval from Cannary shareholders, satisfactory due diligence by Hemp Technology, approval by the board of directors of Hemp Technology and two new Directors will be appointed to Hemp Technology. The transaction is expected to close in middle of June 2020. As part of the conditions two new board members, Chad Costa and Walter Schredl, are appointed in Hemp Technology. Hemp Technology Inc. (OTCPK:HPTY) completed the acquisition of non-operating assets from Cannary Packaging, Inc. on July 7, 2020.