Riverdale Oil and Gas Corporation (OTCPK:RVDO) entered into a non-binding letter of intent to acquire Hempstract, LLC on April 28, 2020. Riverdale Oil and Gas Corporation entered into an asset purchase agreement to acquire Hempstract, LLC on August 6, 2020. Riverdale Oil and Gas will acquire all assets of Hempstract including licenses, equipment, materials, inventory, assignment of all lease, service, and vendor contracts. Upon completion of due diligence and execution of a material definitive agreement, the transaction will reflect a material change to Riverdale Oil and Gas's business plan and will result in the acquisition of a significant assets. Following the acquisition, Hempstract will be reclassified as a subsidiary corporation under Riverdale Oil & Gas Corporation. As of May 5, 2020, Riverdale Oil &Gas Corporation has completed its due diligence for the transaction.