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Friday, October 11, 2019 2:27:04 PM
"Pursuant to the Transaction, the Company will be acquiring all outstanding securities from the shareholders of Isracann (the “Isracann Shareholders”). The Isracann Shareholders are expected to receive 47,180,000 common shares in the capital of the Company (the “Atlas Shares”) at a deemed price of $0.50 per Atlas Share on a pro-rata basis. Subject to the fulfillment of the conditions precedent set out in the Securities Exchange Agreement dated March 12, 2019 among the Company, Isracann and the Isracann Shareholders, the Transaction is expected to close in October 2019. Upon completion of the Transaction, the Company intends to change its name to “Isracann Biosciences Inc.” and have its common shares trade under the new symbol “IPOT”. Isracann will change its name to “Isracann Holdings Ltd.” upon completion of the Transaction."
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