Great Quest Fertilizer Ltd. (TSXV:GQ) signed a binding agreement to acquire 80% stake in Ivorienne Noix de Cajou SARL from Bruce McKean on November 25, 2019. Pursuant to the terms of the agreement, Great Quest has agreed to acquire the one outstanding share of Ivorienne Noix de Cajou in consideration for one common share of the company. Great Quest does not anticipate any changes to the composition of its Board of Directors or management team in relation to the completion of the transaction. The transaction is subject to the the approval of the Exchange and approval from a majority of disinterested shareholders of the company. Apart from this, it is a condition of closing the acquisition that, the Great Quest will have entered into a debt settlement agreement with Bruce McKean pursuant to which the company will concurrently issue to Mr. McKean 22.6 million common shares of the Company (the “Debt Shares”) at a deemed price of CAD 0.30 per share to extinguish CAD 6.8 million debt owed by 1184700 BC Ltd. to McKean. As of March 26, 2020 approval of the transaction and the change of business by shareholders will allow the acquisition of Ivorienne Noix de Cajou SARL to close and the shares of Great Quest to resume trading. As of May 6, 2020 Great Quest Fertilizer Ltd intends to complete a non-brokered private placement for gross proceeds of up to CAD 0.25 million. The net proceeds of the Private Placement will be used towards expenses to be incurred with respect to closing the Company’s ongoing change of business transaction (the “COB”) and for general working capital. As of June 22, 2020 Great Quest Fertilizer Ltd closed, on an oversubscribed basis, its previously announced non-brokered private placement. Great Quest Fertilizer Ltd. (TSXV:GQ) cancelled the acquisition of 80% stake in Ivorienne Noix de Cajou SARL from Bruce McKean on November 11, 2020. As consideration for the termination, Great Quest Fertilizer Ltd will repurchase 5.4 million of its common shares for a nominal $1 and receive a full and final release from the outstanding remaining convertible debt and any and all other amounts owing to the transaction counterparties. Great Quest Fertilizer Ltd board of directors undertook reasonable investigations and reviewed the alternatives in considering and applying their judgment to approve this transaction. As part of these deliberations, the directors determined that proceeding is fair and reasonable and in the best interests of the Company.