Benchmark has completed the share exchange transaction contemplated under the share exchange agreement with shareholders of 1139000 B.C. ("1139") and acquired 5,199,000 Common shares of 1139 from the shareholders. Benchmark now owns 10,199,000 Common shares of 1139, which will represent a 51%, controlling interest in the issued and outstanding share capital of 1139. 1139 acquired a four-acre greenhouse facility in August of 2008 with assistance from Benchmark to develop the facility into a licensed medical cannabis cultivation operation in Pitt Meadows, BC.
As consideration for the 5,199,000 Common shares of 1139, Benchmark issued to the shareholders of 1139 an aggregate of 26,999,956 Benchmark common shares (the "Consideration Shares"). All Consideration Shares issued are subject to a statutory hold period expiring four months and one day after the closing of the transactions contemplated under the Agreement.
For more information:
Benchmark Botanics
Suite 105, 6111 London Road, Richmond, BC, Canada, V7E 3S3
+1-604-238-0005
[email protected]
benchmarkbotanics.com