Cannabis Bioscience Int'l Hldgs Inc (CBIH)

[zeekhoe]

Q filing posted with merger info

https://backend.otcmarkets.com/otcapi/company/financial-report/238544/content

On November 7, 2019, the Issuer and Pharmacology University, Inc., a Delaware corporation, executed and delivered a Plan and Agreement, which has been closed. The sole stockholder of Pharmacology University, Inc. is entitled to receive as merger consideration 2,000,000 shares of the Issuer’s Series A Convertible Preferred Stock and 4,875,000,000 shares of Common Stock. In a separate agreement, Ms. Elizabeth Hernandez, the holder of 4,500,000,000 shares of Common Stock, agreed to sell 3,000,000,000 such shares to the Issuer pursuant to a Stock Purchase Agreement, dated November 7, 2019, between the Issuer and her.

On December 19, 2019, the Company acquired Pharmacology University, Inc., a Delaware corporation (“PUI”), pursuant to an Agreement and Plan of Merger, dated as of November 7, 2019, under which PUI was merged with and into the Company. Pursuant to that agreement, the issuer is obligated to issue, to the former holders of the common stock of PUI, 4,875,000,000 shares of the Company’s common stock and 2,000,000 shares of its Series A Convertible Preferred Stock. These shares are expected to be issued in the near future. When the shares are issued, a change of control will occur.