CannCure Investments Inc. entered into a binding letter of intent to acquire MCP Wellness, Inc. from Merida Capital Partners, LLC for approximately $150 million on April 23, 2019. Under the terms of the transaction, the purchase price will be satisfied by way of $35 million in cash and $115 million in equity consideration. In regard to the cash consideration, $9 million will be sourced from cash on hand and $24 million will come from a private placement financing of CannCure equity. As on July 17, 2019, SOL Global announced $6.5 million capital infusion in CannCure Investments Inc. where CannCure will utilize the SOL investment to progress the binding agreements it has in place towards closing to acquire of MCP Wellness. Following the closing of the acquisition, SOL Global intends to combine the acquired Michigan business into CannCure to form a new multi-state operator (MSO). As part of the acquisition, certain key executives of the Michigan operation will join the MSO and serve on the leadership team. The acquisition is subject to the negotiation and execution of a definitive purchase agreement and regulatory approval for the transfer of licenses within Michigan. The transaction is expected to close in May 2019. As on June 3, 2019, the deal is expected to close on or about August 2, 2019. As on July 29, 2019, The transaction is expected to be close before or during the month of October 2019. The transaction will not be dilutive for ultimate shareholders of CannCure. CannCure Investments Inc. cancelled the acquisition of MCP Wellness, Inc. from Merida Capital Partners, LLC on November 27, 2019. Both companies have recognized that current market conditions do not support a transaction of this size, and both parties and their respective shareholders are better served focusing capital and resources on building out their respective businesses. As part of the amicable termination, the $12.5 million advanced by SOL Global and its wholly owned subsidiary CannCure to MCP Wellness will be repaid in full over the next twelve (12) months in monthly installments and 2 balloon payments at the 6 and 12 month time frames. While the promissory note is outstanding, CannCure will have the option to acquire certain assets from MCP Wellness, convert any amounts due into stock in the Michigan operator, or complete the originally contemplated transaction on substantially similar terms. Any transactions contemplated herein are subject to regulatory approval.