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.
To view the full press release, visit http://nnw.fm/F7z09
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
More from NetworkNewsBreaks
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive instant SMS alerts, text STOCKS to 77948
For more information please visit https://www.NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
[email protected]