Speakeasy Cannabis Club Ltd. (CNSX:EASY) entered into a share purchase agreement to acquire Karolos Research Inc. for CAD 9.6 million on June 24, 2021. Pursuant to the Definitive Agreement, SpeakEasy would acquire all of the Karolos Securities in exchange for the issuance of 11,500,000 common shares in the capital of SpeakEasy and 3,000,000 common share purchase warrants. Each Consideration Warrant entitles the holder to acquire an additional common share of the Company at an exercise price of CAD 0.59 per share for a period of 24 months. 2,000,000 of the Consideration Shares will be subject to a contractual hold period of 4 months from the date of issuance and an additional 2,000,000 Consideration Shares will be subject to a hold period of 1 year from the date of issuance, with 25% of such shares being released to the holder every 3 months during such year. The completion of the Acquisition is subject to a number of conditions; including, without limitation, the approval of the Canadian Securities Exchange and the approval of Speakeasy Cannabis Club Ltd. minority shareholders. SpeakEasy anticipates calling a special meeting of shareholders in the coming weeks with a view to seeking minority shareholder approval for the Acquisition. Speakeasy Cannabis Club Ltd. (CNSX:EASY) cancelled the acquisition of Karolos Research Inc. on August 18, 2021.