Mercury Acquisitions files filing statement for QT
Ryan Allway
March 9th, 2022
News, Top News
MERCURY ACQUISITIONS CORP. ANNOUNCES FILING OF FILING STATEMENT IN CONNECTION WITH QUALIFYING TRANSACTION WITH FRANCHISE CANNABIS CORP.
Further to its news release of Dec. 6, 2021, regarding the receipt of conditional acceptance from the TSX Venture Exchange in respect of its previously announced qualifying transaction (as defined in TSX-V Policy 2.4, Capital Pool Companies) with Franchise Cannabis Corp., Mercury has filed a filing statement dated March 9, 2022, prepared in connection with the qualifying transaction on Mercury’s SEDAR profile. The filing statement provides detailed information with respect to the corporation, Franchise and the qualifying transaction.
The Qualifying Transaction will be completed by way of a “three-cornered” amalgamation between Franchise and a wholly-owned subsidiary of Mercury, that will result in the reverse takeover of Mercury by the shareholders of Franchise. Completion of the Transaction remains subject to the satisfaction or waiver, as applicable, of closing conditions, including the completion of a ten for one (10:1) share consolidation by Mercury and a name change of Mercury to “Franchise Global Health Inc.” The Qualifying Transaction is expected to close on or about March 22, 2022.
Trading in Mercury’s common shares will remain halted until all of the above, including the share consolidation and name change contemplated as part of the Qualifying Transaction, have been completed and the Corporation has received the Exchange’s final acceptance of the Qualifying Transaction. Thereafter, the post-consolidation shares of the Corporation are expected to resume trading on the Exchange under the symbol “FGH”, with the Corporation then listed as a Tier 1 issuer on the Exchange.
About Franchise
Franchise was incorporated on April 25, 2018 under the Business Corporations Act (Ontario). Franchise, through its subsidiaries, is a multi-national operator in the medical cannabis and pharmaceutical industries, with principal operations in Germany and with operations, assets, strategic partnerships and investments internationally. Franchise’s business objective is to develop a fully-integrated, leading European medical cannabis business, with the goal of providing high-quality pharmaceutical grade medical cannabis to distribution partners and, ultimately, to patients, at competitive prices.
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About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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