Top Strike Resources Corp. d.b.a. "Vencanna Ventures" (the "Corporation" or "Vencanna") (CSE:VENI; OTCQB: TPPRF) is pleased to announce a majority ownership in Galenas New Jersey LLC ("Galenas NJ"). The Corporation has purchased an additional 45% interest in Galenas NJ for cash consideration of US$100,000 and the issuance of 2.22 million Vencanna common shares (the "Investment"). The additional interest was purchased from Medical Investor Holdings, LLC (d.b.a Vertical Companies) ("Vertical") and Medical Investment Fund A LP ("MIF"). On August 8, 2019, the Corporation purchased an approximate 15% interest in Galenas NJ for $90,000. With the Investment, Vencanna now owns upwards of 60% of Galenas NJ.
Galenas NJ is a privately-owned medical marijuana company holding applications to commence operations in New Jersey. On or about August 22, 2019, Galenas NJ applied for a New Jersey cannabis cultivation license and a New Jersey dispensary license. There is no assurance the applications will be successful; however, if successful the Investment along with the initial investment will entitle the Corporation to hold a 60% interest in the cultivation license and a 54% interest in the dispensary license.