Icon Exploration Inc. (TSX.V: IEX.H) this morning announced that it has agreed to amend certain terms of its proposed change of business transaction previously announced on November 7, 2018. According to the update and under the terms of an amended Share Exchange Agreement (“SEA”), Icon has agreed to immediately consolidate its share capital on a 1.25:1 basis (1.25 old for 1 new) prior to completion of its acquisition of all of the securities of City View Green (“CVG”). At closing, the entities will complete a business combination by way of share exchange between Icon and all CVG shareholders, whereby CVG will become a wholly owned subsidiary of Icon. On closing of the transaction, Icon will issue eight of its common shares for every issued common share of CVG. In addition, all outstanding CVG incentive options will be cancelled, and Icon will issue five Icon incentive options (exercisable for five years) for each CVG option cancelled.
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About Icon Exploration Inc.
Icon is a publicly traded company on the NEX Exchange (TSXV: IEX.H). The company’s primary objective is to create a well-diversified company that will produce long-term returns for its shareholders and investors. Icon’s current focus is on assessing potential acquisition targets in the cannabis industry. For more information, visit the company’s website at www.IconExploration.net
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