EPSILON HEALTHCARE LIMITED (EPN)

The company releases a report to shareholders regarding the following: voluntary administrator appointments, the EGMs that did not push through, shareholder communications and the extension of convening periods for second meetings of creditors and investigations.

On 17 January 2024, the Voluntary Administrators applied to the Federal Court of Australia seeking orders, pursuant to section 439A(6) of the Corporations Act, to extend the convening period to 20 March 2024. This has been granted.

The Extraordinary General Meetings that will be convened for Friday, 22 December 2023 at 9:00am and 19 January 2024 at 10:00am have been cancelled.

The securities of Epsilon Healthcare Limited will be suspended from quotation immediately under Listing Rule 17.3. The securities will remain suspended until ASX is satisfied with EPN's ongoing compliance with the Listing Rules.

Ian James Purchas and Hugh Armenis of SV Partners were appointed as Joint and Several Administrators.

The suspension of trading in the securities of Epsilon Healthcare Limited will be lifted immediately, following the release by EPN of an announcement regarding a partnership agreement with The Valens Company Inc.

The Valens Company, a leading Canadian manufacturer of cannabis products, has entered into a Binding Heads of Agreement for a long term exclusive partnership with Epsilon, for access to Epsilon's GMP Manufacturing Facility in Southport, Queensland (the Southport Facility). Epsilon's Southport Facility is the largest cannabis extraction facility in the Southern Hemisphere with TGA and EU GMP capability. Marks the first GMP manufactured products to be sold through Valens in Australia and provides Valens with the capability to deliver GMP grade products to Latin America, Europe, UK, and Asia-Pacific. Valens to fund all operational and capital expenditure of the Southport Facility in return for preferential access for up to 85% of the operational capacity of the Southport Facility over the next five years, with options to extend for a further six years. Valens to provide operational and management consultancy at the Southport Facility to bring their industry leading intellectual property, technology and team to the Southport Facility taking advantage of Epsilon's GMP Manufacturing capability. Valens will utilise the Epsilon Southport Facility for all production of medicinal cannabis products for sale in Australian or New Zealand, including through its distribution relationship with Cannvalate. First products manufactured under the partnership expected to be delivered in the coming weeks. Epsilon to acquire AlternaMed Pty Ltd from Cannvalate, including its portfolio of provisional patent applications for three novel cannabinoid therapeutic clinical assets with potential for Schedule 3 medicine development and access to a Sigma Pharmaceuticals storage facility controlled by Cannvalate.

The securities of Epsilon Healthcare Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of EPN, pending the release of an announcement regarding the execution of binding agreements to secure a long term corporate partnership.

name changed from THC Global Group Limited