News Column

ALPHALA CORP. FILES (8-K) Disclosing Other Events

June 16, 2014

Item 8.01 Other Events

On June 10, 2014, Alphala Corp. (the "Company") entered into a non-binding letter of intent (the "LOI") with FV Pharma Inc., a private Ontario, Canada corporation ("FV Pharma"), and all the holders of the Class B non-voting shares of FV Pharma (the "Shares"), pursuant to which the Company agreed to acquire 100% of the Shares from such holders in exchange for the allotment and issuance of 150,000,000 restricted shares of the Company's common stock (the "Transaction"). The Transaction is expected to take the form of a share exchange with the result that FV Pharma will become a partially owned subsidiary of the Company, and is subject to certain closing conditions, including the completion of satisfactory due diligence by the parties, the negotiation of satisfactory transaction documentation, the approval of the Transaction by the respective boards of directors of FV Pharma and the Company and the delivery to the Company of audited financial statements of FV Pharma for its two most recent fiscal years.

The LOI also contemplates that upon the completion of the Transaction the management of FV Pharma will become the management of the Company and that the Company will change its name to more accurately reflect its new line of business.

FV Pharma has applied to Health Canada to become a licensed commercial producer of marijuana under the Government of Canada's new Marihuana for Medical Purposes Regulations (the "MMPR"). The company's application is in the personal security checks stage of the process, and an in-depth review verification of the application must still occur before Health Canada conducts a pre-license inspection of its proposed facility, located in Cobourg, Ontario. If successful, FV Pharma will receive a license to produce marijuana for medical purposes under the MMPR.

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Source: Edgar Glimpses

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