SOL Global Investments Corp. (“SOL Global” or the “Company”) (CSE:SOL) (OTCPK: SOLCF) (Frankfurt:9SB) announced today that its 40.7% owned portfolio company Heavenly  Rx, Ltd. (“Heavenly Rx”) has entered into a memorandum of understanding (“MOU”) with the US NASDAQ listed public company, Therapix Biosciences Ltd (NASDAQ: TRPX), a speciality clinical-stage pharmaceutical company with a portfolio of technologies and assets based on cannabinoid pharmaceuticals, pursuant to which Therapix and Heavenly Rx have agreed to pursue a business combination.  Pursuant to the MOU, the parties will negotiate a definitive agreement for a business combination between Therapix and Heavenly Rx, constituting a reverse takeover of Therapix by Heavenly Rx.  Heavenly Rx is led by Paul Norman, former President of Kellogg Company’s North American business. The parties have agreed to enter into an initial share exchange between Therapix and Heavenly Rx pursuant to which Therapix will issue up to 20% of its outstanding American Depositary Shares to acquire an interest in Heavenly Rx. This share exchange is expected to close within 30 days and represents an initial step towards the proposed business combination between Therapix and Heavenly Rx.

“Today’s announcement marks the opportunity for Heavenly Rx to become a public company.  It was just a matter of finding the right company to go forward with and we have found a great partner with Therapix.  The possibility of marrying our CPG expertise with Therapix’s specialized background positions this proposed transaction to win long-term in the vastly expanding CBD marketplace,” said Paul Norman, Chief Executive Officer of Heavenly Rx.

Subject to successful completion of the proposed business combination, the parties intend the Company to be renamed Heavenly Rx, Ltd. with Mr. Norman serving as Chief Executive Officer of the combined business. Clive Sirkin, a seasoned global CPG executive who most recently served as the Chief Growth Officer for the Kellogg Company, will join Heavenly Rx’s board of directors. Prior to Kellogg, Mr. Sirkin served as the Chief Marketing Officer of Kimberly-Clark, overseeing all marketing across both their B2B and B2C divisions during a time of unprecedented shareholder growth in the company’s history.

Any transaction between the parties remains subject to entry into a definitive agreement and to any applicable shareholder and regulatory approvals. There can be no guarantee that the proposed business combination, or any other business combination between Therapix or Heavenly Rx, will be consummated.