I'm not certain how this all goes down with a reverse merger/takeover.
Reading the last update I can find indicates today's date has some significance. Unless they decide to extend the DD time and closing of the Definitive Agreement and underlying transactions. Perhaps more updates this week?
What does it mean they will close the contemplated listing on the CSE no later than March 31, 2023? Will the company be private and no longer trade on an exchange? I'd love to know more about the details for the shares owned prior to trade halting.
"GLOBAL HEMP GROUP ANNOUNCES UPDATE ON THE REVITALIZE EARTH REVERSE-TAKEOVER TRANSACTION
Vancouver, BC -- (September 21, 2022) -- GLOBAL HEMP GROUP INC. (“GHG” or the “Company”) (CSE: GHG / OTC: GBHPF / FRANKFURT: GHG) Further to the GHG’s news announcements of July 12, 2022 and July 13, 2022, the Company wishes to provide further information on the Revitalize Earth reverse-takeover transaction.
The parties have recently amended their binding Letter of Intent, originally executed on July 8, 2022, to extend the Due Diligence period to October 31, 2022 and to extend the closing of the Definitive Agreement and underlying transactions to October 31, 2022, or any other date that the parties may agree to in writing and in any event, to close the contemplated listing on the CSE no later than March 31, 2023. The parties will endeavor to work to close the listing as expeditiously as possible. In addition to the parties completing their Due Diligence and Definitive Agreement, they are working towards completion of a Listing Statement and Information Circular required for the transaction. Further, as part of the transaction, Revitalize Earth will be completing an audit of their financial statements. The Company will announce each step as it is completed.
In the meantime, trading of GHG Common Shares will remain halted until the Company receives shareholder approval by way of written consent or when the information circular is posted on SEDAR in contemplation of the meeting of shareholders of the Company, whichever route the Company decides to take to that effect."
