Freedom Leaf, Inc. (OTCPK:FRLF) signed a letter of intent to acquire Green Market Europe S. L. for €0.19 million on June 28, 2017. Freedom Leaf, Inc. (OTCPK:FRLF) entered into equity purchase agreement to acquire of Green Market Europe S. L. from Luis Miguel Santos Juan and Ylenia Coves Sansano for €0.96 million on January 5, 2018. The acquisition will be mostly a stock transaction amounting to 4.8 million shares of Freedom Leaf common stock, plus €0.02 million in cash. As of August 29, 2017, Freedom Leaf has paid the cash stipulated in the contract as a deposit of the full transaction. Under the terms of the letter, all the facilities being acquired are owned free and clear, with no debt. Following the acquisition, the Green Market Europe shareholders will also retain 50% of the net profits as an incentive and will retain their existing management contracts. The acquisition contract will be signed in November 2017 after Freedom Leaf’s auditor has completed the audit. The letter of intent includes retaining current management. The acquisition is expected to close in July 2017. As of August 29, 2017, the acquisition is expected to close as soon as the legal and accounting review is completed within the next 30 days. As of September 7, 2017, the deal is expected to close within the next 30 days. As of October 18, 2017, the acquisition is expected to close within the next 30 days. The acquisition is expected to be accretive in the fourth quarter. Freedom Leaf, Inc. (OTCPK:FRLF) completed the acquisition of Green Market Europe S. L. from Luis Miguel Santos Juan and Ylenia Coves Sansano for €0.96 million on January 5, 2018. Freedom agreed to issue 4.22 million shares and pay €0.02 million in cash to acquire 3000 shares held 1500 each by Luis Miguel Santos Juan and Ylenia Coves Sansano. Freedom Leaf, Inc. (OTCPK:FRLF) cancelled the acquisition of Green Market Europe S. L. from Luis Miguel Santos Juan and Ylenia Coves Sansano on June 4, 2018. In connection with the preliminary audit of Green Market Europe S. L., the Freedom Leaf, Inc.’s management discovered several irregularities regarding GME’s operations and its sellers’ activities before and after the consummation of the acquisition. Based on investigation of the discoveries, the consummated acquisition was terminated.