Imaging3 to be acquired in reverse takeover

3D imaging device developer Imaging3 has entered into a definitive agreement for reverse acquisition by cannabis manufacturer Grapefruit Boulevard Investments (GBI).

Per the agreement, GBI will own approximately 81% of the post-acquisition common shares of Imaging3 while also being a subsidiary of the imaging company. The companies expect the transaction to close by May 20.

After the closing of the transaction, a new company, New I3, will assume control over the current assets and most of the liabilities of Imaging3.

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