Nouveau Life Pharmaceuticals Inc (NOUV)

[AvantGarde]

Yes, NOUV is being acquired by P*RA. P*RA is going to use the NOUV shell to reverse merge their cannabis cultivation business into.

Important note: NOUV will be restructured, but the restructuring details will not be released until after the deal closes. Also, as part of the deal, P*RA will receive a $1.2mil convertible note from NOUV. P*RA can convert this note into shares of NOUV, which will then be given to P*RA shareholders as part of a dividend.

"The spinoff transaction is structured whereby PURA shareholders are to receive one share of target public company stock for every five shares of PURA stock that they hold."

https://finance.yahoo.com/news/puration-announces-loi-spinoff-cannabis-131500268.html