Sol Global Investments Corp. (SOLCF)

[NYOptionsGuy]

Scythian Sells Latin American and Caribbean Assets to Aphria in All Stock Deal


FULL RELEASE: https://mjobserver.com/investments/scythian-announces-strategic-sale-of-latin-american-and-caribbean-assets-in-193000000-deal-to-aphria/

Toronto, ON — July 17, 2018 — /D.M.O. Newswire/ — Scythian Biosciences Corp. (the “Company” or “Scythian”) (TSXV:SCYB) (FRA:9SB) (OTC:SCCYF) is pleased to announce that it has entered into a strategic deal with Aphria Inc. (TSX:APH) (OTC:APHQF) (“Aphria”), a leading global cannabis company, for Aphria to acquire Scythian’s Latin American and Caribbean assets. It is expected that the Company’s strategic relationship with Aphria will provide leverage for early stage investments in emerging international markets.

Pursuant to a definitive share purchase agreement (the “Agreement”), Aphria will acquire 100% of the issued and outstanding common shares of LATAM Holdings Inc., a direct, wholly-owned subsidiary of Scythian, which following the closing of previously announced transactions will own licenses and other assets held through subsidiaries in Argentina, Colombia and Jamaica (the “Transaction”).

As a result of the Transaction, Aphria will indirectly acquire the following interests:

100% of Marigold Acquisitions Inc., an entity which owns 100% of Hampstead Holdings Ltd., a Bermuda incorporated entity, which owns 49% of Marigold Projects Jamaica Limited, which has received licenses to cultivate and conditional licenses to process, sell and provide therapeutic or spa services using cannabis products in Jamaica;
100% of ABP, S.A., an Argentinean pharmaceutical import and distribution company, currently licensed for the importation of CBD oil; and
90% of Colcanna S.A.S., a Colombian medical cannabis producer, currently licensed for cultivation and importation of CBD, extraction, production, research and exportation of medical cannabis products, (collectively, the “Target Corporations”).
Scythian will also grant Aphria a right to purchase from Scythian, in one or more separate tranches, up to 90% of the issued and outstanding common shares of an entity in Brazil (which Scythian is currently seeking to acquire) at terms to be agreed upon.