3D imaging device developer Imaging3 has entered into a definitive agreement for reverse acquisition by cannabis manufacturer Grapefruit Boulevard Investments (GBI).
Per the agreement, GBI will own approximately 81% of the post-acquisition common shares of Imaging3 while also being a subsidiary of the imaging company. The companies expect the transaction to close by May 20.
After the closing of the transaction, a new company, New I3, will assume control over the current assets and most of the liabilities of Imaging3.
