Ann: CannPal and AusCann Enter into Scheme of Arrangement, page-75

From my understanding, $17.5M is how CP1 was valued in order to determine how many AC8 shares need to be issued to CP1 shareholders in exchange for the acquisition.

Not saying there won't be a raise somewhere down the line but I couldn't see mention of cash changing hands.

Bearing in mind that if this is true, then there is still circa 17M in the bank which means current MC of AC8 ~43M? is pretty close to how the market values the 2 companies combined.

Can anyone who knows more confirm?

Guess we'll find out more with the 'explanatory booklet'.