CEN Biotech Inc (CENBF)

[swingingRichard]

From CenBio 8k

According to the Term Sheet, prior to Closing, CSOC agreed to undertake certain actions, which are conditions precedent to the Closing, and which include the following: (1) CSOC converting all of its outstanding debt into shares of CSOC Common Stock, (2) CSOC filing a Form 10 Registration Statement with the SEC and filing a Form S-4 Registration Statement with the SEC, (3) CSOC effecting a reverse stock split of the CSOC Common Stock such that at the Closing, no more than 28,000,000 shares of CSOC Common Stock are issued and outstanding and (4) CSOC amending its formation documents to be in a form reasonably agreed to by CSOC and the Company.