Global Care Capital (CSE:HLTH) signs $49.6M agreement with Carbon Canada (TSXV:CCB)

Global Care Capital Inc. (HLTH) signed a $ 49.6 million agreement with Carbon Canada Corp. (CCB) to acquire Bishop Hill Holdings Ltd. Global Care will acquire a 60.44 per cent interest in Bishop Hill by issuing 600 million of its common shares to Carbon Canada for $ 0.05 per common share Global Care will have the option to acquire the remaining Bishop Hill shares for cash consideration of $ 19.6 million Bishop Hill holds a 15 per cent interest in Titan Electricity Ltd., which signed a memorandum of understanding with Global Care last month Global Care Capital Inc. (HLTH) is unchanged, trading at $ 0.01 per share as of 11:24 a.m. EST Carbon Canada Corp. (CCB) is down 9.09 per cent, trading at $ 0.05 per share as of 11:46 a.m. EST

Global Care Capital (HLTH) has signed a $ 49.6 million share purchase agreement with Carbon Canada Corp. (CCB) to acquire its subsidiary, Bishop Hill Holdings Ltd.

Global Care is a global investment company which specializes in providing early-stage financing to private and public companies. Carbon Canada is a Canadian mineral exploration company.

Global Care will acquire a 60.44 per cent interest in Bishop Hill by issuing 600 million of its common shares to Carbon Canada for $ 0.05 per common share.

After closing the transaction, Global Care will have the option to acquire the remaining Bishop Hill shares for cash consideration of $ 19.6 million, which the company stated is its plan. This option can be exercised any time before the second anniversary of the initial closing.

Bishop Hill holds a 15 per cent interest in Titan Electricity Ltd., which signed a memorandum of understanding with Global Care last month. Titan holds global intellectual property rights to a net zero geothermal energy generation technology for gas cleaning, carbon dioxide reduction, and domestic energy supplies.

The transaction is still subject to receipt by Global Care of an independent third-party valuation of Titan, compliance with all applicable regulatory requirements and receipt of all necessary regulatory, corporate, and board approvals being obtained.

The agreement is an arms-length transaction, and Global Care may pay a finder’s fee in cash, shares or warrants up to the maximum allowable under regulatory policies.

Global Care Capital Inc. (HLTH) is unchanged, trading at $ 0.01 per share as of 11:24 a.m. EST.

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Global Care Capital (CSE:HLTH) signs .6M agreement with Carbon Canada (TSXV:CCB)