Agra Nutraceuticals Corporation entered into an agreement to acquire Canna Corporation (OTCPK:CNCC) in a reverse merger transaction for $6.9 million on January 16, 2020. Pursuant to the transaction, Dror Svorai, Canna Corporation’s majority shareholder, President, Chief Executive Officer and sole officer and director will transfer his 0.803 million shares of Canna Corporation’s series A preferred stock and 197 million shares of Canna Corporation’s restricted common stock to SBS Eco Trust, holder of 77.5% stake in Agra Nutraceuticals Corporation. Canna Corporation’s common stock issued to SBS Eco Trust represents 86.8% of the total issued and outstanding shares of Canna Corporation. The shares of Canna Corporation will be issued to SBS Eco Trust, within 10 business days of the closing. As a result of entry into the agreement, on January 17, 2020, Dror Svorai resigned as President and Chief Executive Officer, and a director of Canna Corporation. Following Dror Svorai’s resignation, Sacha Alessandro Ceruti was appointed as President and Chief Executive Officer, Director, Daniel Rodgers as Treasurer, Director, Esther Bittelman as Secretary, Director and Devin Avery, Syed Rizvi and David Lilly, each as directors. All of them hold the same positions with Agra Nutraceuticals Corporation. The transaction is subject to approval of the shareholders and Boards of Directors of Agra Nutraceuticals Corporation and Canna Corporation. The Boards of Directors of both Agra Nutraceuticals Corporation and Canna Corporation have recommended to their respective shareholders that the acquisition be approved by a vote of the shareholders, which vote and approval has been attested thereto by a majority vote of the shareholders of each of Agra Nutraceuticals Corporation and Canna Corporation. The transaction has been subsequently approved by majority or unanimous vote of the Board of Directors of each of Agra Nutraceuticals Corporation and Canna Corporation. The transaction is expected to be completed 20 days following the mailing of an information statement to shareholders pursuant to Schedule 14.