Petro Vista Energy Corp. Enters Into Definitive Agreement with 3 Sixty Secure Corp. and Total Cannabis Security Solutions Inc.

Published: November 13, 2018

Petro Vista Energy Corp. Enters Into Definitive Agreement with 3 Sixty Secure Corp. and Total Cannabis Security Solutions Inc.

Petro Vista Energy Corp. has entered into a definitive agreement dated November 9, 2018 with 3 Sixty Secure Corp., a privately held corporation existing under the provisions of the Business Corporations Act and Total Cannabis Security Solutions Inc., a privately held corporation existing under the provisions of the OBCA, in furtherance of Petro Vista’s proposed business combination with an amalgamated corporation resulting from the prior amalgamation of 3Sixty and TCSS, all as previously disclosed in Petro Vista’s news release dated September 20, 2018, a copy of which, along with the Definitive Agreement, is available on Petro Vista’s company profile at www.sedar.com.

Pursuant to the terms of the Definitive Agreement, a special-purpose subsidiary of Petro Vista will amalgamate with Amalco under the OBCA and Petro Vista will carry on the business of 3Sixty and TCSS under the name “3 Sixty Secure Corp.”.

Immediately prior to the completion of the PubCo Amalgamation, Petro Vista will consolidate all of its issued and outstanding common shares on the basis of one post-consolidation Petro Vista Share for every two pre-consolidation Petro Vista Shares. At the effective time of the PubCo Amalgamation (the “Effective Time”), each issued Amalco common share will be cancelled and replaced by one common share in the capital of the Resulting Issuer and all other outstanding convertible securities of Amalco will become exercisable for Resulting Issuer Shares in accordance with the terms of the Definitive Agreement.

Upon completion of the RTO Transaction, it is expected that there will be 143,913,042 Resulting Issuer Shares issued and outstanding. Holders of Petro Vista Shares are expected to own approximately 1.8% of the Resulting Issuer Shares and holders of Amalco common shares (including holders of Amalco common shares upon the deemed exercise of the 20,590,000 subscription receipts of 3Sixty in connection with 3Sixty’s previously announced subscription receipt offering) are expected to own approximately 98.2% of the Resulting Issuer shares.

Recent News

View All News Items

Latest Article

How Database Integrations Can Improve Every Step in Your Cannabis Supply Chain Labeling

How Database Integrations Can Improve Every Step in Your Cannabis Supply Chain Labeling

At any step in the cannabis supply chain, your labeling system should allow for full control and traceability, from seed to sale. Implementing lean principles and labeling best practices across the cannabis supply chain can help you streamline your seed-to-sale labeling process and help you gain control.

Click below to read the full blog and learn how to reduce waste, cut costs, and gain efficiency with cannabis labeling: https://bit.ly/2KwZ5IQ

Read Article