Vibe Bioscience Ltd. (CNSX:VIBE) entered into a definitive agreement to acquire Cathedral Asset Holdings Corporation from Ventura Cannabis & Wellness Corporation (CNSX:VCAN) on August 30, 2020. The consideration is paid in all share transaction for $0.33 million and will assume the lease obligation for the Santa Rosa facility, as well as the existing inventory of vape products. Ventura will also receive twelve month at the money warrants to acquire up to 800,000 shares of Vibe.

The completion of the Cathedral acquisition is subject to, among other things, the receipt of regulatory approvals and the satisfaction of closing conditions. The acquisition is scheduled to close on September 15, 2020. It is anticipated the acquisition will be highly accretive to Vibe shareholders within 6 months.