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Step One - Material Default and Requirement to Restructure

Updated: Jan 25

On November 20, 2020 Phoenix Life Sciences International Limited announced in a Form 8k that it had settled with Martin Tindall, the Founder of Phoenix Life, GHI Trustees Pty Ltd and Global Health Trust based on material defaults by the Company pursuant to the terms of the merger of 2018.

Material to the Settlement, the Company was required to enter into a reorganization plan by December 30, 2020 and to file a notice of termination of merger with the Nevada Secretary of State.

As part of the settlement, the Phoenix Life Sciences business and its agreements with the Government of Vanuatu were transferred and assigned to GHI Trustees Pty Ltd.

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