March 2, 2018
Friday Night Inc. Closes Acquisition of Spire Secure Logistics and Strengthens Team
Friday Night Inc. is pleased to advise that it has closed its previously announced acquisition of Spire Secure Logistics Inc.
7,692,308 common shares were issued at a deemed price of $0.65 to the shareholders of Spire. These shares are subject to trading restrictions until July 2, 2018 and are further subject to a voluntary escrow that will see 12.5% of the total amount released every 3 months, starting with a release on closing and then on May 1, 2018.
Brayden Sutton, CEO of Friday Night, held less than 10% of Spire, and took no part in the negotiations with and the decision by the board to acquire Spire.
The Company is also pleased to announce that Tim Humberstone, a former law enforcement leader and respected expert in Canada’s regulated cannabis sector is joining Spire Secure Logistics, a company specializing in security, intelligence, and compliance. As Chief Strategy Officer, Tim will lead Spire’s growth in Ontario and support clients across Canada with his depth and breadth of specialized knowledge and relationships.
“Anyone who knows Tim Humberstone knows that he is a consummate professional – and there is nobody who knows cannabis security and compliance better,” said Spire’s CEO Andy Richards.
“I’ve been courted by a lot of companies in the cannabis sector,” said Mr. Humberstone. “It’s no accident I chose to join the team at Spire Secure Logistics. Spire has been quietly establishing a presence across Canada, and I’m excited to take the lead in Ontario.”
Mr. Humberstone led security and compliance at one of Canada’s first Licensed Producers of medicinal cannabis. He worked closely with Health Canada and the Office of Medical Cannabis since the earliest days of the regulated cannabis sector. He served in the regulated roles of Senior/Responsible Person in Charge, created all security related policies and procedures, and was responsible for extensive applications and reporting.
During a prior 20-year career with the RCMP, Humberstone gained leadership experience including municipal and federal drug enforcement, the Organized Crime Agency, and Combined Forces Special Enforcement Units. He trained extensively in advanced policing and leadership roles, including expertise in federal and provincial policies. He has strong relationships with federal, provincial, and municipal law enforcement agencies.
For more information contact:
Alexia Helgason, Corporate Communications
1.604.728-4407
Alexia@FridayNightInc.com
