VANCOUVER, BC / ACCESSWIRE / February 25, 2019 / Eviana Health Corporation ("Eviana". the "Company") (CSE: EHC) (OTC: EVNNF) is pleased to announce a term sheet has been signed for a proposed transaction (the "hemp transaction") whereby a wholly-owned Eviana subsidiary is to sell 155 metric tonnes (prior to sorting or initial processing) of industrial hemp located in Mladenovo, Serbia (the "hemp assets") currently in inventory, to ICC International Cannabis Corp. ("ICC") (CSE: WRLD.U) (FWB: 8K51) (OTC: KNHBF).
As consideration for the purchase of the hemp assets, ICC will issue 26,081,287 of its shares at a deemed price of US$0.35 per share, one-third of which will be subject to a four month and a day hold period, one-third to an eight month hold period, and the final third to a 12 month hold period,
The hemp transaction is conditional on the parties entering into an advisory services agreement whereby ICC will provide certain distribution and branding services to Eviana, an extraction tolling agreement whereby Eviana will convert the hemp assets into CBD concentrate, and the hemp transaction closing on or before March 31, 2019.
Access Alternative Group S.A. advised on the transaction on behalf of Eviana.
About Eviana
Eviana controls a Serbian industrial hemp license, which permits the cultivation, processing and sale of industrial hemp. Serbia has become an ideal destination to cultivate industrial hemp due to its fertile land parcels, access to established irrigation systems, low cost production, as well as an experienced agricultural workforce. Eviana has amassed total processed industrial hemp inventories of approximately 310 metric tonnes in 2018.
Eviana is mandated with delivering customized consumer health care products using natural hemp strains of cannabis sativa for CBD-based topical creams and products and cosmeceutical and nutraceutical merchandise.
About ICC
ICC International, through its subsidiaries, has operating assets and is developing a world-class platform for cultivation, extraction, formulation and distribution across the globe in the United Kingdom, Denmark, Poland, Switzerland, Germany, Macedonia, Bulgaria, Serbia, Croatia, Greece, Italy, Portugal, Malta, Colombia, Argentina, Australia, South Africa and Lesotho.
Disclaimer
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release. Not for distribution to U.S. news wire services or dissemination in the United States. This news release contains certain statements that constitute forward-looking statements as they relate to the Company and its management. Forward-looking statements are not historical facts but represent management's current expectation of future events, and can be identified by words such as "believe", "expects", "will", "intends", "plans", "projects", "anticipates", "estimates", "continues" and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct. By their nature, forward-looking statements include assumptions and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, the Company will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, the Company assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including, but not limited to: risks of future legal proceedings, regulatory approval of the issuance of securities, and potential dilution.
SOURCE: Eviana Health Corporation