Vegalab, Inc. (OTCPK:VEGL) exercised an option to acquire The Agronomy Group LLC from Jeffry Hill and Ryan Sweeney for $4.8 million on December 29, 2017. Under the terms of consideration, Vegalab will issue 0.6 million shares of the restricted common stock and a warrant to purchase 1.6 million shares of the restricted common stock of Vegalab at an exercise price of $1.20 per share exercisable over a term of five years. In connection with the acquisition of assets, Vegalab will enter into employment agreements with the principal owners of The Agronomy Group. The closing is subject to the negotiation, execution, and delivery of definitive transaction documents and is expected to close on or before January 22, 2018. As of January 22, 2018, Vegalab, Inc. (OTCPK:VEGL) entered into a Member Units Purchase Agreement to acquire The Agronomy Group LLC from Jeffry Hill and Ryan Sweeney for 4.8 million. Post-acquisition, The Agronomy Group LLC operates as a wholly owned subsidiary of Vegalab. The transaction is subject to regulatory approvals and execution of employment agreements. As of February 1, 2018, employment agreement was executed. Vegalab, Inc. (OTCPK:VEGL) completed the acquisition of The Agronomy Group LLC from Jeffry Hill and Ryan Sweeney on February 20, 2018.