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by Stockwatch Business Reporter
The TSX Venture Exchange lost a fraction to 749.50 Thursday. Anne Chopra's halted capital pool shell, Harvest One Capital Inc. (WON), has firmed up its qualifying transaction with Andreas Gedeon's medical cannabis company, MMJ PhytoTech Ltd. For its QT, the shell is acquiring two of MMJ's subsidiaries: United Greeneries Holdings Ltd., which is a licensed cannabis grower in Duncan, B.C., and Satipharm AG, which is a Swiss manufacturer of a cannabidiol-based food supplement. Harvest One will roll back 1 for 1.79, leaving it with 2,286,659 postconsolidated shares issued, then issue 53,333,333 postconsolidated shares to MMJ. It will also pay MMJ $2-million cash. On closing of the QT, Harvest One will change its name to Sol Growth Corp. Currently, the shell is selling a $15-million private placement of 20 million subscription receipts at 75 cents.
Sol Growth will have five directors, including Ms. Chopra, Mr. Gedeon and one new nominee. Ms. Chopra, a lawyer and first-time shell-maker, listed Harvest One in February, 2010, with a $200,000 initial public offering of shares at 10 cents. She is the only shell director who will remain with the resulting issuer. Mr. Gedeon, a former German Navy officer and a co-founder of MMJ, will be the chief executive officer of Sol Growth. The new nominee is Will Stewart. From August, 2000, to October, 2003, he was the chief of staff to several ministers in the Cabinet of Ontario. These days, he is the founding principal at Ensight Canada Inc., a public affairs adviser in Ottawa. He is also a managing partner of Toronto public relations firm Navigator Ltd. He has a weekly podcast called Political Traction, which is available for free on iTunes. Rounding out the Sol Growth board are lawyer Peter Wall and accountant Jason Bednar.
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