September 29, 2021
VANCOUVER, BRITISH COLUMBIA, September 29, 2021 / Love Pharma Inc. (CSE: LUV) (the “Company”) announces that it has changed its name, has completed the arms-length acquisition of all of the shares of private BC-based Kick Pharmaceuticals, Inc. (“Kick”), and has affected a two for one consolidation. The Company has issued 183,067,857 common shares, at a deemed value of $0.10 per share, to the shareholders of Kick. In concurrent transactions, the Company issued 20,000,000 shares to the shareholders of 1288339 BC Ltd at a deemed price of $0.10 and issued 3,000,000 shares at a deemed price of $0.10 to Callitas Health, Inc., pursuant to certain product license agreements.
Post transactions, there are 314,919,945 shares issued and outstanding with an additional 73,626,130 shares reserved for issuance, pursuant to various warrants. Of the shares currently issued and outstanding, 140,500,000 are subject to trading restrictions until January 23, 2022. An additional 3,494,000 shares are subject to a three-year escrow agreement, in accordance with exchange policies.
As part of the transaction, Zach Stadnyk of Vancouver, BC, has joined the board and has assumed the role of president and CEO, with Doug Taylor remaining on the board.
The transaction was considered a Fundamental Change pursuant to the policies of the Canadian Securities Exchange and was subject to shareholder approval and CSE review. A listing statement containing more details of the transaction has been filed with the CSE as well as on www.sedar.com. The Company is advised that its shares will commence trading under the symbol LUV on the CSE on Thursday, September 30, 2021.