Seedadelic Med Corp. entered into a letter of intent to acquire EGF Theramed Health Corp. (CNSX:TMED) for CAD 2.25 million in a reverse merger transaction on December 14, 2020. Seedadelic Med Corp. entered into a definitive share purchase agreement to acquire EGF Theramed Health Corp. (CNSX:TMED) for CAD 2.25 million in a reverse merger transaction on May 31, 2021. In connection with the acquisition, EGF Theramed Health will issue 15 million common shares. Following issuance, the Consideration Shares will be subject to the terms of an escrow agreement, during which time they may not be transferred or sold until a date that is four months after the date that the Company files a Form 51-102F4 Business Acquisition Report on SEDAR in compliance with National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”). Completion of the proposed transaction remains subject to the negotiation of definitive documentation, completion of customary due diligence and receipt of any required regulatory approvals. The closing of the Proposed Acquisition is also subject to Seedadelic having at least CAD 450,000 in positive working capital. The Proposed Acquisition was approved by a majority of the Company's disinterested shareholders at the Company's annual general and special meeting of its shareholders held on April 28, 2021.

In connection with the completion of the Proposed Acquisition, the EGF Theramed will issue 1,500,000 common shares as a finder's fee to a company that introduced the parties.

Seedadelic Med Corp. completed the acquisition of EGF Theramed Health Corp. (CNSX:TMED) in a reverse merger transaction on June 7, 2021.