Folium Life Science Inc entered into a binding share exchange agreement to acquire Sennen Potash Corporation (TSXV:SN) in a reverse merger transaction on November 19, 2018. Under the provisions of the transaction, Sennen will acquire all of the issued and outstanding securities of Folium in consideration of the issuance of 93.7 million common shares of Sennen. In a related transaction, Sennen intends to complete a non-brokered private placement offering of up to 7.5 million subscription receipts. The net proceeds from the financing will be used for the development of Sennen’s proposed business following its acquisition of Folium and for general working capital purposes. Following the completion of the transaction, Sennen expects to change its name to a name to be determined by the parties. A new trading symbol would also be assigned. At closing of the transaction, all of the current directors and officers of Sennen would resign in favor of nominees selected by Folium, being Fonda Betts, who will be appointed as Executive Chairman and Chad Clelland, who will also be appointed as President and Chief Executive Officer as well as three other additional nominees. Sennen anticipates it will delist its common shares from the TSX Venture Exchange (“TSXV”) and list the common shares on the Canadian Securities Exchange (“CSE”) such that on the closing date, the common shares of Sennen would be listed on the CSE. The closing of the transaction is subject to a number of conditions, including completion of due diligence by Sennen, the completion of the Financing, receipt of all applicable regulatory approvals for the transaction including the approval of the CSE or the TSXV, as may be determined, for the listing of the Sennen common shares and, if applicable, of the TSXV for the delisting of the Sennen common shares, Folium’s license to produce shall not have been revoked or otherwise terminated, no material adverse change shall have occurred in Folium or Sennen and other customary conditions for a transaction of this nature. A finder’s fee of 6 million common shares is expected to be paid in connection with the transaction to an arm’s length party. Folium Life Science Inc cancelled the acquisition of Sennen Potash Corporation (TSXV:SN) in a reverse merger transaction on January 30, 2019.