Olive Resource Capital Inc. (TSXV:OC) entered into an agreement to acquire Portfolio of Assets of CannaIncome Fund Corporation for CAD 1.3 million on May 18, 2022. The assets will be acquired in exchange for 25,831,231 common shares of Olive representing a deemed issue price of CAD 0.095 per common share, subject to adjustment. The common shares being issued to CiF are to be transferred to CiF's securityholders immediately following closing as part of the wind-up of CiF's business. The number of common shares to be issued remains subject to adjustment on a basis to be agreed 10 days prior to closing, if the relative value of the CiF portfolio has changed by more than 10%. The transaction remains subject to a number of conditions, including receipt of the approval of the CiF shareholders and of the TSX Venture Exchange and receipt of certain consents and approvals required to transfer some of the assets. Closing is expected to occur within approximately 60 days.

Olive Resource Capital Inc. (TSXV: OC) completed the acquisition of Portfolio of Assets of CannaIncome Fund Corporation for CAD 1.36 million on August 2, 2022. The transaction remains subject to final approval by the TSX Venture Exchange.