TORONTO, ON / ACCESSWIRE / October 1, 2024 / Justera Health Ltd. (CSE:VTAL)(OTC PINK:SCRSF) ("Justera"or the"Company") is pleased to announce that further to its news release dated June 13, 2024, it has signed a definitive agreement, dated September 30, 2024 (the "Definitive Agreement") to acquire 100% of the issued and outstanding share capital of Port NorthExtracts Inc. ("Port North"), a solventless cannabis brand (the "Transaction").
Port North is known for its specialized solventless extraction techniques and product lineup. This acquisition aligns with Justera's strategic plan to diversify its portfolio and expand its presence in the health and wellness sector, particularly in the burgeoning cannabis market. Transaction Terms: Under the terms of the Definitive Agreement, Justera will acquire 100% of the issued and outstanding shares of Port North, an arm's length party, in exchange for 80,000,000 common shares of Justera, issued pro rata to the shareholders of Port North at a deemed value of $0.
02 per share (the "Payment Shares"). Additionally, each Port North warrant held by shareholders at closing will be cancelled and exchanged for a Justera common share purchase warrant, entitling the holder to acquire one common share of Justera at an exercise price of $0.05 per share, during the same term as the original Port North warrant.
The Payment Shares will be subject to a hold period until 10 trading days following the date the Company either files (i) a business acqu.
