Eshbal Functional Foods Cooperative Ltd. entered into letter of intent to acquire Cannibble Food-Tech Ltd. (CNSX:PLCN) in a Reverse merger transaction on July 7, 2022. As of November 27, 2022 Eshbal Functional Foods Cooperative Ltd. entered into a share purchase agreement to acquire Cannibble Food-Tech Ltd. (CNSX:PLCN) in a reverse merger tranaction. Under the terms of the Definitive Agreement, in exchange for 100% of the membership interests in Eshbal, Cannibble will issue an aggregate number of its ordinary shares (the "Consideration Shares") that will result in the former owners of Eshbal holding 51% of the issued and outstanding shares of Cannibble immediately post-Closing, without taking into consideration those Cannibble shares that are issued pursuant to the Concurrent Financing. It is anticipated that the Acquisition will be an all shares transaction, with the Vendors receiving in the aggregate ordinary shares of Cannibble equal to 50% of the issued and outstanding Cannibble Shares at closing of the Acquisition, and with Cannibble issuing up to another 20%. At Closing, it is expected that Yuval Levy will join the board of Cannibble as chairman and Ronit Vivante will join Cannibble as chief financial officer. Transaction which will be subject to a number of conditions, including CSE and shareholder approval, subject to the negotiation and signing of a definitive agreement, completion of due diligence by the parties, completion of a private placement by Cannibble of a minimum financing of CAD 4 million, receipt of all applicable governmental, regulatory and contractual third party approvals, including approval of the Canadian Securities Exchange, and other conditions precedent and closing conditions customary for similar transactions to the Proposed Acquisition. The companies are expected to sign a Definitive Agreement in the fourth quarter of 2022.

Eshbal Functional Foods Cooperative Ltd. cancelled the acquisition of Cannibble Food-Tech Ltd. (CNSX:PLCN) in a Reverse merger transaction on November 22, 2023.