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Saturday, 10/16/2021 11:51:47 AM

Saturday, October 16, 2021 11:51:47 AM

Post# of 1151


https://www.accesswire.com/655804/Eco-Equity-Announces-a-100-Equity-Acquisition-by-Virtual-Medical-International-Inc-OTC-Markets-QEBR

Assets and liabilities look good, both parameters improved greatly, see pg 11 of Q2

“On June 25, 2021, the Company entered into a Heads of Agreement with Eco Equity Ltd. (“Eco”) to purchase 100% of the shares of certain Licenses to Cultivate and Export Medical Grade Cannabis from Zimbabwe. Under the terms of the agreement, the Company was to pay an exclusivity fee of $250,000 within 24 hours of execution. The exclusivity fee was subsequently extended to be payable on or before September 30, 2021. The consideration for the shares of Eco is $110,000,000 payable by way of the issuance of common stock of the Company and a capital injection of $20,000,000 by way of a corporate loan at 5% interest payable yearly in arrears with a maturity date in ten years. Or as cash for stock based on the valuation per share on the $110,000,000 purchase price . The proceeds of the $20,000,000 loan will be used to pay corporate finance fees of $4,000,000 and to pay $4,000,000 to certain shareholders including $2.800,000 to Goldman & Sons. Also to include any bridge lenders advancing funds prior to completion of the acquisition. The remaining funds will be used for further expansion and working capital. Under the terms of the the agreement, the Company has agreed to undertake a $50,000,000 best efforts Reg A offering statement.
Management expects to close additional acquisitions in fiscal 2021 and to continue to enhance its Board of Directors and executive officers to support the growth of the Company as it transitions back to the CBD sector.”

“On December 1, 2020, the Company entered into an agreement to acquire all of the issued and outstanding shares of GenX Fitness Water (“GenX”), a company incorporated pursuant to the laws of Mexico. Under the terms of the purchase agreement the Company will receive the shares of Gen X as well as all formulas, IP, advertising materials, inventory, branding and know-how. The purchase price for the acquisition is $25,000 cash and 250,000 shares of the Company plus a 5% residual commion based on Net operanting income to be paid to the seller. As of the date of this filing the Company had issued 25,000 shares for the acquisition but not paid the funds as required until the agreement. The Company valued 250,000 shares at the closing price of the Company’s stock as traded on the OTCMarket on the issuance date and recorded the amount $18,250 in other assets.
On May 20, 2021, the Company executed an addendum to the purchase agreement to acquire GenX, whereby the Company agreed to issue a further 250,000 shares and to extend the closing of the acquisition to September 1, 2021. The additional 250,000 share were not
issued as of June 30, 2021.“

https://www.otcmarkets.com/otcapi/company/financial-report/306022/content

The stock price would have to be pretty high to issue 110m worth of stock to buy Eco. Everything is coalescing at the same time and cannabis legalization 2022. Zimbabwean cannabis top quality in the world and has a novelty aspect to it. Could see some celebrities sign on to support Africa affiliated business. All imo.

my posts are always theory and not financial advice