These Companies Merged To Create A Fully Integrated Cannabis Giant With International Reach

Atlas Global Brands Inc. (formerly Silver Phoenix Resources Inc.) successfully completed its business combination, pursuant to a reverse take-over transaction, with each of Atlas Biotechnologies Inc., AgMedica Bioscience Inc. and Cambrosia Ltd. and the concurrent acquisition by Cambrosia of each of Tlalim Pappo Ltd., Pharmacy Baron Ltd., and R.J. Regavim Ventures Ltd., privately held operating cannabis pharmacies in Israel, all to form Atlas Global Brands Inc. The RTO transaction constitutes a "fundamental change" of Silver Phoenix pursuant to the policies of the Canadian Securities Exchange.

The RTO transaction was completed pursuant to the terms of conditions of the amalgamation and share exchange agreement dated July 14, 2022, as amended, among Silver Phoenix, Atlas Biotech, AgMedica, Cambrosia, 2432998 Alberta Ltd. (“Subco 1”), 14060407 Canada Inc. (“Subco 2”) and the ordinary shareholders of Cambrosia.

Concurrently, with the completion of the transaction, Cambrosia completed a financing pursuant to which it issued of 100 million ordinary shares of Cambrosia with S.H.R. Group Management (KSN) Ltd. for gross proceeds of ILS 9 million ($2.5 million) with a further commitment of ILS 6 million to finance future acquisitions.

The company expects to commence trading on the CSE on or about January 13, 2023, under the ticker symbol “ATL”.

Reconstituted Management Team and Board

• Sheldon Croome, interim CEO

• Bernard Yeung, MBA, general manager, head of global operations

• Jason Cervi, CPA, head of finance and administration

• Jeffrey R. Gossain, P. Eng., COO

• Dr. Trevor Henry, DVM, director and president of AgMedica

• Peter Van Mol, CPA, CA, director and CFO of AgMedica

• Cale Alacer, P.Eng, PMP, director

• Elan MacDonald, ICD.D, director

Advisory Board

• Jonathan Ben-Cnaan, vice chairman of the advisory board

• Dr. Tamir Gedo, PhD, executive chairman of the advisory board

• Professor Itamar Grotto, advisor

• David Pappo, advisor

• Iftach Seri, advisor

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