Britannia enters into definitive agreement with rise life science to “go public” via reverse takeover of rise life science
Toronto, May 3, 2021 – Britannia Bud Canada Holdings Inc. (d/b/a Britannia Life Sciences) (“Britannia”) and RISE Life Science Corp. (“RISE”) (RLSC: CSE) are pleased to announce that Britannia, RISE and 2830026 Ontario Inc. (“RISE Subco”), a wholly-owned subsidiary of RISE, have entered into a business combination agreement dated April 30, 2021 (the “Definitive Agreement”) in respect of their previously-announced transaction. Completion of this transaction will result in a reverse takeover of RISE (the “RTO”) and will constitute a “fundamental change” of RISE pursuant to the policies of the Canadian Securities Exchange (the “CSE”). In this news release, references to the “Resulting Issuer” are to RISE following the closing of the RTO.
Peter Shippen, Chief Executive Officer of Britannia, stated: “We are excited to take this important next step in our company’s development and believe this transaction brings us some attractive and complementary assets, which will further our growth and development. That said, our team has already started to look beyond this transaction and is eager to continue executing on our strategy of being the global product development and lab partner of choice to cannabis companies, as well as our existing clients in the cosmetic, food and nutraceutical industries. I’d like to thank all of our shareholders for their support.”
Scott Secord, Executive Chairman of RISE, stated: “RISE believes this transaction is extremely attractive to its shareholders and we are excited to support the strategy of Britannia and its management team going forward. Britannia’s current operations and vision for future growth aligns well with the growing market for product development and lab testing services in the cannabis sector. I would like to thank all of RISE’s stakeholders for their support of this transaction with Britannia.”