L5 Capital Inc. executed a stalking horse share purchase agreement to acquire Trichome JWC Acquisition Corp. and MYM Nutraceuticals Inc. from Trichome Financial Corp. for approximately CAD 6.3 million.

L5 Capital Inc. executed a stalking horse share purchase agreement to acquire Trichome JWC Acquisition Corp. and MYM Nutraceuticals Inc. from Trichome Financial Corp. for approximately CAD 6.3 million on December 12, 2022.

The agreement provides total consideration of approximately CAD 6.3 million, plus the collection of receivables and sale of inventory, if any, at the time of closing. The consideration includes a base cash purchase price of CAD 5 million and certain deferred consideration payable pursuant to secured limited recourse promissory notes. The parties will seek approval of Ontario Superior Court of Justice (Commercial List) for stalking horse share purchase agreement on January 9, 2023.

If approved by the Court as the stalking horse bid, the Stalking Horse SPA will be subject to higher and otherwise superior bids received in the sale and investment solicitation process. On January 9, 2023, the Ontario Superior Court of Justice issued an order in respect of a motion brought by Trichome Financial Corp. Stoic Advisory Inc. is conducting a stalking horse sale and investment solicitation process.