AWS.V - Arrowstar Resources Ltd.

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  • ACCESSWIRE

    Arrowstar Signs LOI with Adastra Labs Holdings Ltd.

    VANCOUVER, BC / ACCESSWIRE / August 8, 2019 / Phillip Thomas, President of Arrowstar Resources Ltd. (“Arrowstar” or the “Company”) (AWS.V), is pleased to announce that it has entered into a letter of intent (the “LOI”) to enter into a Share Exchange Agreement with Adastra Labs Holdings Ltd. ("Adastra") whereby the parties will complete a business combination by way of a transaction that will constitute a reverse takeover of the Company by Adastra (the "Transaction"). Pursuant to the Transaction, the Company will first apply to delist from the TSX Venture Exchange (the "TSXV"), then on closing of the Transaction (the "Closing") all of the issued and outstanding common shares of Adastra (the "Adastra Shares") will be exchanged for common shares of the Company (the "AWS Shares"), which will result in Adastra becoming a wholly-owned subsidiary of the Company or otherwise combining its corporate existence with a wholly-owned subsidiary of the Company.

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