Wikileaf Technologies closes reverse takeover transaction with One Web Services

On May 30, 2019, Wikileaf Technologies Inc. (formerly Kona Capital Ltd.) (“Wikileaf”) announced the closing of its reverse takeover transaction with One Web Services Inc. (“OWS”), the owner and operator of the Seattle-based cannabis price comparison website Wikileaf.com.

As part of the transaction, Wikileaf completed its previously announced non-brokered private placement of common shares for aggregate gross proceeds of approximately $6.8 million.

Following the closing of the transaction, Wikileaf filed its long-form non-offering preliminary prospectus with the securities regulatory authorities in each of the provinces of Alberta, British Columbia and Ontario. Wikileaf has also applied to list the common shares on the Canadian Securities Exchange.

Wikileaf Technologies is owned and operated by Nesta Holding Co. Ltd., a private equity firm focused on the global cannabis industry.

Gowling WLG advised Wikileaf with respect to these transactions with a team that included Denis Silva, Brett Kagetsu, Tara Amiri, Raymond Ong and Kean Silverthorn.