Maricann Group Inc. (CNSX:WAYL) entered into an agreement to acquire 51% stake in Theros Pharma Ltd for £27.8 million on November 26, 2018. The consideration includes an initial payment of £3.8 million followed by a second payment of £24 million following certain milestones being achieved, including issuance to Theros of a license to cultivate cannabis in the UK or a license to import medical cannabis for use in the UK. Both payments will be satisfied by the issuance of common shares of the Company based on then-current market prices. The payments are conditional on receipt of applicable stock exchange approval, approval of holders of at least two-thirds of the Company's outstanding debentures and any other applicable approvals. Maricann Group Inc. (CNSX:WAYL) cancelled the acquisition of 51% stake in Theros Pharma Ltd on December 5, 2019.