MYM Nutraceuticals Inc. (CNSX:MYM) entered into a letter of intent to acquire Crop Infrastructure Corp. (CNSX:CROP) for CAD 4 million on November 7, 2019. Under the terms of the proposed transaction, MYM would acquire all of the outstanding common shares of Crop on an exchange ratio of 10.5 Crop shares for 1 MYM common share, all outstanding warrants to acquire shares shall remain outstanding in accordance with their terms, all outstanding options to acquire shares shall, subject to regulatory approval, be exchanged for options of MYM, exercisable to acquire MYM Shares, subject to adjustment of the number of MYM Shares purchasable thereunder and the exercise price per MYM Share payable thereunder based upon the exchange ratio and all the debentures previously issued by CROP shall be amended such that they will become obligations of MYM and convertible into MYM Shares at a conversion price to be determined by MYM and the holders of the CROP Debentures on or before November 15, 2019. The LOI provides that CROP and MYM to negotiate and enter into a definitive agreement in respect of the proposed transaction on or before November 15, 2019. Crop Infrastructure Corp. will pay a termination fee of CAD 0.45 million to MYM Nutraceuticals Inc. in the event that CROP breaches the exclusivity provisions of the LOI or accepts an alternative offer during the Exclusivity Period.

The transaction is subject to execution of definitive agreement, the directors and officers of CROP, the holders of the CROP Debentures, and certain shareholders owning or exercising control or direction over 5% of more of the outstanding Shares entering into support agreements concurrent with the Definitive Agreement and approval of Crop Infrastructure Corp. shareholders, approval of Canadian Securities Exchange and court approval. The transaction is expected to close on or before January 7, 2020.

MYM Nutraceuticals Inc. (CNSX:MYM) cancelled the acquisition of Crop Infrastructure Corp. (CNSX:CROP) on November 26, 2019. MYM continues to engage in discussions with CROP regarding alternative transactions focused on specific assets of CROP.