Smartset Services Inc. (TSXV:SMAR.P) entered into letter of intent to acquire CannTx Life Sciences Inc. on December 10, 2018. Under the terms, each common share of Smartset may be consolidated based on the agreed upon valuations of the two companies. Each common share of CannTx will be exchanged for common shares of the new entity based on the exchange ratio to be determined. In connection with the transaction, CannTx will complete a private placement worth minimum proceeds of CAD 2 million. The resulting issuer will continue under the name of CannTx Life Sciences Group Inc. The letter of intent may be terminated by either party if the definitive agreement is not entered into by January 31, 2019. As of January 25, 2019, Smartset Services Inc. entered in to a amended agreement in which Letter Agreement may be terminated by either party if either the Definitive Agreement is not entered into by May 31, 2019. For the fiscal ended May 31, 2018, CannTx Life Sciences reported total assets of CAD 9.01 million and shareholders’ equity of CAD 4.92 million. The proposed Board of Directors of the resulting issuer will be Josh Gerstein, Peter (Buck) Young, Andrew Bulmer, Randall Smallbone and Guy Dancosse. The proposed officers of the resulting issuer will be Josh Gerstein as Chief Executive Officer, Alex Falconer as Chief Financial Officer and Corporate Secretary, Michael Abbott as President and James Afara as Chief Operating Officer. Directors and senior management of the Company collectively will have direction or control over an aggregate of 7.24 million shares of CannTx or approximately 18.5% of the currently issued and outstanding shares of CannTx. The transaction is subject to approval by shareholders and Directors of CannTx, completion of satisfactory due diligence, regulatory approvals, listing of shares on the stock exchange, approval by shareholders and Directors of Smartset, third party approvals, sponsorship requirements of the TSXV, Smartset not having incurred liability or expense in excess of CAD 5000 and availability of minimum cash balance. The transaction is expected to close in April 2019. Smartset Services Inc. (TSXV:SMAR.P) terminated the acquisition of CannTx Life Sciences Inc. on April 23, 2019.