ASIA GREEN BIOTECHNOLOGY CORP. announces intention to acquire Burton Growers and Green Sight

ASIA GREEN BIOTECHNOLOGY CORP. (CSE: ASIA), based in Calgary, has revealed its plan to acquire the companies Burton Growers Ltd. and Green Sight Agri-Holdings Inc., both active in hemp production in Canada. The planned transaction involves the exchange of 200,000,000 common shares of Asia Green for all issued and outstanding shares of both companies. This operation is expected to result in shareholders of Burton Growers and Green Sight holding approximately 42% of the common shares of Asia Green. The completion of the transaction is subject to several conditions, including a private fundraising and regulatory approval.

Additionally, Asia Green is planning a private fundraising of an amount ranging from $500,000 to $1,500,000. This sum will be used, among other things, to repay $150,000 of debts. Following the transaction, a consolidation of Asia Green's shares on a 2 for 1 basis is planned. Asia Green's capital structure will thus undergo significant changes post-transaction.

Asia Green's shares are currently suspended, pending the completion of the transaction. The future management of the company will be overseen by the current management teams of Burton Growers and Green Sight, with Dr. Igor Kovalchuk continuing to oversee cannabis-related scientific trials.