Credo Resources Inc. and Beatrice Society Holdings Inc. Enter into a Definitive Agreement for a Reverse Takeover Transaction
Toronto, Ontario–(Newsfile Corp. – November 12, 2021) – Dominique Monardo, CEO of Credo Resources Inc. (“Credo”) is pleased to announce that Credo has entered into a definitive agreement (the “Definitive Agreement“) with Beatrice Society Holdings Inc. (“Beatrice“) to complete a business combination transaction (the “RTO Transaction“) that will result in the reverse take-over of Credo by Beatrice. The entity resulting from the RTO Transaction (the “Resulting Issuer“) will continue to carry on the business of Beatrice.
About Beatrice
Beatrice Society Inc. exists to fuel the growing psychedelic therapy industry through public and professional education and therapies. Beatrice’s approachable consumer-oriented brand is focused on driving public awareness of psychedelic therapies, while their proven, patent pending training protocol equips the industry with qualified professionals to satisfy increasing demand. The company’s current and growing network of clinics and protocol-certified practitioners will supply a scalable model, allowing for expedited expansion with consistency in both therapeutic process and post integration analysis. To support its growth, the training protocol will support the required pipeline of psychedelic trained practitioners.
Public Education
Beatrice’s merger with Boxcar Social, Toronto’s leading café, bottle shop, and restaurant chain, allows them to provide quality, functional mushroom products in inviting environments. In combining this approachable introduction to the category with an SEO-optimized website focused on answering common questions about the category, Beatrice helps facilitate exploration into therapeutic treatment for those who may benefit.
Professional Education
Beatrice supports the mental health and wellness industries by equipping clinicians with patient-centered, evidence-based protocols for psychedelic-assisted psychotherapy treatment.
Training existing clinicians in their proprietary TRIPTM protocol will help to alleviate the shortage of mental healthcare practitioners trained in psychedelic therapy.
Psychedelic Therapy Clinics
Beatrice owns and operates its flagship MindSetting Clinic in London, Ontario, combining the power of psychedelic medicine with the science of psychology to provide legal psychedelic enhanced psychotherapy with the use of ketamine. Incorporating the aforementioned TRIPTM protocol creates a data driven, individualized treatment plan for patients. The company will expand its clinic business through additional corporate operated clinics and licensing agreements with TRIPTM certified clinicians.
To learn more visit beatricesociety.com.
Terms of the RTO Transaction
The RTO Transaction is expected to be completed by way of a share exchange, amalgamation or other form of business combination determined with input from the legal and tax advisors to each of Credo and Beatrice, which will result in Beatrice becoming a wholly-owned subsidiary of Credo.
Upon the satisfaction or waiver of the conditions set out in the Definitive Agreement, which conditions include, among other things, the Resulting Issuer obtaining a listing on a Canadian Stock Exchange:
a) Credo will consolidate its outstanding common shares on a basis to be determined by Beatrice pending shareholder approval;
b) the holders of common shares of Beatrice (“Beatrice Shares“) will receive common shares of the Resulting Issuer in exchange for their Beatrice Shares on the basis of an exchange ratio of 11.1413597 Credo pre-consolidation common share for every one (1) Beatrice Share issued and outstanding as at the closing; and
c) the management and board of directors of the Resulting Issuer will be replaced with nominees of Beatrice.
For further information please contact:
Credo Resources Inc.
Dominique Monardo, CEO
Email: [email protected]
Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon.
The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the companies’ expectations and projections.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/103274
