Prime Drink Group Corp. agreed to acquire Triani Canada Inc. from 9296-0186 Quebec Inc. for CAD 38 million.
The Company intends to consolidate its outstanding Prime Drink Group Shares on a 5:1 basis resulting in 1 Prime Drink Group Share outstanding following the Consolidation for every 5 Prime Drink Group Shares outstanding. The transaction is subject to negotiation and execution of the Definitive Agreement, including the grant of the ROFR and Options. The transaction is subject to obtaining all necessary consents, orders and regulatory and shareholder approvals. The transaction is subject to CSE approval. The transaction is satisfactory due diligence by each party of the other party. Upon completion of the Proposed Transaction, Prime Drink Group intends to change its name and CSE will assign a new trading symbol.