Inner Spirit Holdings Ltd. announced that it has entered into an investment agreement for private placement of 15,000,000 common shares at $0.023 per share for gross proceeds of $350,000 with new investor Cannabis Wheaton Income Corp. (TSXV:CBW) on January 9, 2018. The shares issued represent 18.5% stake in the company.

The investor is acquiring the shares of the company with cash, its 674,418 common shares of issue price of $2.15 per share, and 1,250,000 common share purchase warrants exercisable at $2.53 per common share for a period of 24 months from closing. The warrants are subject to certain vesting conditions related to Spirit Leaf achieving certain operational milestones. The transaction is expected to close on or prior to January 12, 2018, subject to the receipt of all required approvals, including the approval of the TSX Venture Exchange.