Goldrea Resources firms up Tabu Equity deal
2018-06-18 12:22 ET - News Release
Mr. James Elbert reports
GOLDREA AND TABU COMMIT TO FINAL AMALGAMATION
Goldrea Resources Corp. has signed an amalgamation agreement with Tabu Equity Investments. The terms of the Agreement will include the entirety of Tabu's outstanding twenty-seven million shares on a one for one basis with Goldrea, to be taken out of Goldrea's treasury shares. Goldrea will acquire all of Tabu's assets, including all contracts complete and pending. Tabu is responsible for raising a minimum of one million dollars of investment as operating funds to launch various projects Tabu has in play.
Given the successful passing of cannabis legislation in Parliament's Senate, a positive environment exists as final passage is expected in the House of Commons in the near months. This timing works well for the merging of Goldrea and Tabu in anticipation of final approval of the Amalgamation subject to shareholders and the Exchange. Next year's cannabis industry in Canada is estimated to be more than four billion dollars and 2020 is projected to be over six billion. Goldrea's goal is to ethically embrace this opportunity and explore the varied benefits cannabis can offer.
Jim Elbert, President and CEO of Goldrea states, "We are looking forward with the partnering with the vibrant team of Tabu, and their wide swath of contacts and working associations in the cannabis industry. Tabu's business plan, which is aggressive in penetrating this burgeoning sector, can be accelerated under the umbrella of the public company of Goldrea, expanding exposure both nationally and internationally."
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