Announcement • Jan 14

Cannatrek Ltd entered into a Scheme Implementation Deed to acquire Little Green Pharma Ltd (ASX:LGP) in a reverse merger transaction for AUD 85.1 million.

Cannatrek Ltd entered into a Scheme Implementation Deed to acquire Little Green Pharma Ltd (ASX:LGP) in a reverse merger transaction for AUD 85.1 million on January 14, 2026. The acquisition will be implemented by way of a scheme of arrangement. As part of the consideration, Little Green Pharma Ltd will issue 1.835806 new Little Green Pharma Ltd shares for every Cannatrek share held and 0.727502 new contingent value shares for every Cannatrek share held. Based on the agreed exchange ratios, Cannatrek Ltd shareholders will initially hold approximately 60.5% of the Combined Group, and existing Little Green Pharma Ltd shareholders will hold approximately 39.5% at Completion and prior to the issue of any additional Little Green Pharma Ltd ordinary shares following the conversion of the contingent value shares. The transaction mechanics result in a final fully diluted ownership range of approximately 60.5% to 68.2% for Cannatrek Ltd shareholders and 31.8% to 39.5% for existing Little Green Pharma Ltd shareholders. In case of termination of transaction, Cannatrek Ltd will pay a termination fee of AUD 0.34 million and Little Green Pharma Ltd will pay a termination fee of AUD 0.34 million. The transaction is subject to approval by regulatory board / committee, approval of offer by shareholders of Cannatrek Ltd and Little Green Pharma Ltd, The Independent Expert concluding that the Scheme is in the best interests, Approval of the issue of the new Little Green Pharma Ltd securities under the Scheme, Cannatrek maintaining a net cash position of AUD 13 million at Completion, Each holder of Cannatrek options has either exercised the vested Cannatrek options or cancelled them in accordance with cancellation deeds, current Cannatrek major shareholders and Relevant Little Green Pharma Ltd shareholders agree to enter into a voluntary escrow deed, subject to court approval and other customary conditions. The deal has been unanimously approved by the board of directors of Cannatrek Ltd and Little Green Pharma Ltd. Cannatrek shareholders and LGP shareholders do not need to take any action in relation to the Scheme at this stage. The scheme is expected to be effective on April 22, 2026 and is expected to be implemented on May 1, 2026. James Nicholls of Hamilton Locke Pty Ltd acted as legal advisor to Little Green Pharma Ltd. Canaccord Genuity Financial Limited acted as financial advisor to Little Green Pharma Ltd. Harry Kingsley of K & L Gates acted as legal advisor to Cannatrek Ltd. Intrinsic Partners Pty. Ltd. acted as financial advisor to Cannatrek Ltd. RSM Corporate Australia Pty Ltd, Financial Advisory Arm acted as fairness opinion provider to Cannatrek Ltd. Boardroom Pty Limited acted as transfer agent/registrar to Cannatrek Ltd.

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Full year 2026 earnings: EPS misses analyst expectations

Cannatrek Ltd entered into a Scheme Implementation Deed to acquire Little Green Pharma Ltd (ASX:LGP) in a reverse merger transaction for AUD 85.1 million.

First half 2026 earnings released: AU$0.003 loss per share (vs AU$0.011 loss in 1H 2025)

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