Verano Holdings, Inc. entered into a non-binding letter of intent to acquire Newton Energy Corporation (TSXV:NTN.H) in a reverse merger transaction.
The transaction is subject to a number of conditions, including the negotiation and signing of a definitive agreement, receipt of all necessary securityholder and regulatory approvals, approval from the NEX board of the TSX Venture Exchange for the delisting of the common shares of Newton from the Exchange and conditional approval of the Canadian Securities Exchange for the listing of the Newton shares following completion of the transaction.