Michael Woods reports
P&P VENTURES INC. SHAREHOLDERS APPROVE
PROPOSED TRANSACTION TO ACQUIRE MANIFESTSEVEN
Further to its April 2, 2019, news release, P&P Ventures
Inc.'s shareholders who voted at its recently completed
annual and special shareholder meeting on July 10, 2019, unanimously approved the reverse takeover of
MJIC Inc., doing business as ManifestSeven (M7), a leading California-based company
operating in the retail storefront, retail delivery and distribution components of the regulated
cannabis industry, as well as the unregulated wholesale and retail sale of ancillary products related
to the cannabis industry or related industries, to businesses and consumers.
Conditions to the proposed transaction
The completion of the proposed transaction remains subject to a number of terms and conditions
customary for transactions of this nature, including regulatory approvals of the matters
contemplated by the underlying merger agreement, including the capital alteration, the three-for-four
consolidation of capital and name change to ManifestSeven Holdings Corp., and delisting from the
TSX Venture Exchange and listing on the Canadian Securities Exchange. Given the above third party approvals
beyond the control of the company and M7, closing of the proposed transaction is currently
targeted in August, 2019.
MJIC Inc. was incorporated pursuant to the laws in the State of California on April 29, 2014, and
operates under the name ManifestSeven. M7 is a leading United States-based company operating
in the wholesale and retail segments of the cannabis industry, and the ancillary industry of related but non-regulated products often used by consumers of cannabis
products. M7's principal business strategy is to act as a singular access
point across all available commercial channels to provide businesses and consumers universalized
access to cannabis products and ancillary products.
M7 engages in the wholesaling, distribution and transportation of cannabis products on behalf of
licensed cannabis operators, and the retail sale of cannabis products directly to consumers through
brick-and-mortar dispensaries and local on-demand delivery and subscription services. M7 is also
engaged in the wholesaling, distribution and transportation of ancillary products to licensed
cannabis operators and applicable operators in the ancillary industry, as well as the retail sale of ancillary products directly to consumers through transactional and subscription-based e-commerce platforms. M7 was founded upon the cornerstone principle of legal and regulatory
compliance. M7's internal compliance division monitors all of M7's operations, and also provides
compliance products and services to licensed cannabis operators.
P&P is currently listed on the NEX board of the TSX-V. Management of the company has been
actively engaged in assessing possible projects with a view to completing an acquisition.
We seek Safe Harbor.
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