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Monday, March 13, 2017 8:25:47 AM
Contact me! I'll vote "for sure"
Rav Mlait ~~
rav@finoremining.com
Hello Dick,
Finore is involved in a proposed Fundamental Change on the CSE. Closing of the transaction remains subject to certain closing conditions, including obtaining all necessary approvals, approval of the CSE and if applicable, approval by shareholders of the company. There can be no assurance that the transaction will be completed as proposed or at all. It is expected that trading in the company's securities will remain halted pending completion of the transaction.
We hope to have further updates as soon as possible.
I include a copy of our last news release below.
FINORE MINING ANNOUNCES DEFINITIVE AGREEMENT FOR ACQUISITION OF KUSHTOWN USA, LLC
Further to its press release of Oct. 27, 2016, Finore Mining Inc. has entered into a share exchange agreement dated Jan. 25, 2017, with Kushtown USA LLC, a private California limited liability company, and the members of Kushtown, pursuant to which, the company will acquire all of the issued and outstanding membership interests of Kushtown. The transaction is expected to constitute a fundamental change for the company pursuant to the policies of the Canadian Securities Exchange (the CSE).
In consideration for the transaction, and on closing thereof, the company will pay in cash $650,000 (U.S.) (additional cash consideration of $100,000 (U.S.) was paid upon signing the letter agreement) and shall issue an aggregate of four million common shares in the capital of Finore pro rata to the Kushtown members at a deemed price of 15 Canadian cents per payment share. The payment shares will be subject to escrow conditions and/or resale restrictions as required by applicable securities laws and the policies of the CSE.
In connection with the transaction, the company will also issue three million common shares to an arm's-length third party at a deemed price of 15 Canadian cents per share and shall grant a 2-per-cent net profits interest royalty on all Kushtown-branded products sold by the company as an assignment fee.
Closing of the transaction remains subject to certain closing conditions, including obtaining all necessary approvals, approval of the CSE and if applicable, approval by shareholders of the company. There can be no assurance that the transaction will be completed as proposed or at all. It is expected that trading in the company's securities will remain halted pending completion of the transaction.
Finore Mining Inc.
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---------- Forwarded message ----------
From: dick
Date: Sun, Mar 12, 2017 at 1:25 PM
Subject: KushtownUSA
To: rjefferson@metallawgroup.com
Cc:
Hi Mr. Jefferson. I'm a current shareholder in Finore Mining, soon to be KushtownUSA.
Can you tell me anything about the ongoing merger? Is this a fraud? I didn't think that this would take such a long time. Thank you for any insight you may offer in my behalf.
Sincerely,
Dick
Sent from my iPhone
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