Invest Inc. signed a letter of intent to acquire Canna-Global Acquisition Corp (OTCPK:CNGL) for an enterprise value of $250 million in a reverse merger transaction on July 12, 2024. This Transaction values the Invest Inc at an initial enterprise value of $250 million and will enable the Company to become a publicly traded company in the United States. The completion of the Transaction is contingent upon several factors, including the completion of due diligence, the negotiation of a definitive agreement, the satisfaction of the conditions negotiated therein, and approval of the transaction by the stockholders of both companies.

Upon reaching a definitive agreement, the parties shall disclose additional details regarding the proposed transaction. Subject to the absence of unforeseen circumstances, the transaction is anticipated to be finalized expeditiously. The audit of Invest Inc. is also in process.

Subject to previously disclosed limitations, Canna-Global's stockholders will have the right to redeem their shares if they disapprove of the Transaction, allowing them to exit the investment in exchange for their pro rata distribution of funds held by the trust. The LOI has been unanimously approved by the boards of directors of both Canna-Global and Invest Inc.