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CSE FORM 2A LISTING STATEMENT in Connection with the Listing Of

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CSE FORM 2A LISTING STATEMENT In connection with the listing of MJardin Group, Inc., the entity formed upon the reverse take-over of Sumtra Diversified Inc. by MJAR Holdings Corp. November 13, 2018 MJardin Group, Inc. currently derives substantially all of its current revenues from the cannabis industry in certain states of the United States, which industry is illegal under United States federal law. MJardin Group, Inc. is directly involved (through licensed parties with whom it contracts) in the cannabis industry in the United States where local state laws permit such activities. Currently, its customers are directly, and MJardin Group, Inc. is indirectly through the services provided to such clients, engaged in the manufacture, possession, use, sale or distribution of cannabis in the legal and regulated recreational and/or medicinal cannabis marketplace in the States of Colorado and Nevada. The United States federal government regulates drugs through the Controlled Substances Act (21 U.S.C. § 811), which places controlled substances, including cannabis, in a schedule. Cannabis is classified as a Schedule I drug. Under United States federal law, a Schedule I drug or substance has a high potential for abuse, no accepted medical use in the United States, and a lack of accepted safety for the use of the drug under medical supervision. The United States Food and Drug Administration has not approved cannabis as a safe and effective drug for any indication. In the United States, cannabis is largely regulated at the state level. State laws regulating cannabis are in direct conflict with the federal Controlled Substances Act, which makes cannabis use and possession federally illegal. Although certain states authorize medical or recreational cannabis production and distribution by licensed or registered entities, under U.S. federal law, the possession, use, cultivation, and transfer of cannabis and any related drug paraphernalia is illegal and any such acts are criminal acts under federal law. The Supremacy Clause of the United States Constitution establishes that the United States Constitution and the federal laws made pursuant to it are paramount and in case of conflict between federal and state law, the federal law shall apply. On January 4, 2018, U.S. Attorney General Jeff Sessions issued a memorandum to U.S. district attorneys which rescinded previous guidance from the U.S. Department of Justice specific to cannabis enforcement in the United States, including the Cole Memorandum (as defined herein). With the Cole Memorandum rescinded, U.S. federal prosecutors have been given discretion in determining whether to prosecute cannabis related violations of U.S. federal law. U.S. Attorney General Jeff Sessions resigned on November 7, 2018. As of his resignation, Matthew Whitaker is the acting U.S. Attorney General. It is unclear what impact this development will have on U.S. federal government enforcement policy There is no guarantee that state laws legalizing and regulating the sale and use of cannabis will not be repealed or overturned, or that local governmental authorities will not limit the applicability of state laws within their respective jurisdictions. Unless and until the United States Congress amends the Controlled Substances Act with respect to medical and/or adult-use cannabis (and as to the timing or scope of any such potential amendments there can be no assurance), there is a risk that federal authorities may enforce current federal law. If the federal government begins to enforce federal laws relating to cannabis in states where the sale and use of cannabis is currently legal, or if existing applicable state laws are repealed or curtailed, MJardin Group, Inc.’s business, results of operations, financial condition and prospects would be materially adversely affected. See Section 17 of this Listing Statement – Risk Factors for additional information on this risk. In light of the political and regulatory uncertainty surrounding the treatment of U.S. cannabis-related activities, including the rescission of the Cole Memorandum discussed above, on February 8, 2018 the Canadian Securities Administrators published a staff notice (Staff Notice 51-352) setting out the Canadian Securities Administrator’s disclosure expectations for specific risks facing issuers with cannabis-related activities in the United States. Staff Notice 51-352 confirms that a disclosure-based approach remains appropriate for issuers with U.S. cannabis- related activities. Staff Notice 51-352 includes additional disclosure expectations that apply to all issuers with U.S. cannabis related activities, including those with direct and indirect involvement in the cultivation and distribution of cannabis, as well as issuers that provide goods and services to third parties involved in the U.S. cannabis industry. Please see Trends, Commitments, Events or Uncertainties in Section 3.3 for further information on the material facts, risks and uncertainties related to U.S. issuers with marijuana-related activities. TABLE OF CONTENTS 1 About This Listing Statement ............................................................................................................... 1 2 Corporate Structure ............................................................................................................................... 9 3 General Development of the Business ................................................................................................ 11 4 Narrative Description of the Business ................................................................................................ 29 5 Selected Consolidated Financial Information ..................................................................................... 46 6 Management's Discussion and Analysis ............................................................................................. 47 7 Market for Securities ........................................................................................................................... 47 8 Consolidated Capitalization ................................................................................................................ 47 9 Options to Purchase Securities ............................................................................................................ 48 10 Description of the Securities ........................................................................................................... 53 11 Escrowed Securities ........................................................................................................................ 57 12 Principal Shareholders .................................................................................................................... 57 13 Directors and Officers ..................................................................................................................... 58 14 Capitalization .................................................................................................................................. 63 15 Executive Compensation................................................................................................................. 67 16 Indebtedness of Directors and Executive Officers .......................................................................... 72 17 Risk Factors .................................................................................................................................... 72 18 Promoters ........................................................................................................................................ 89 19 Legal Proceedings ........................................................................................................................... 90 20 Interest of Management and Others in Material Transactions ........................................................ 90 21 Auditors, Transfer Agents and Registrars ....................................................................................... 91 22 Material Contracts ........................................................................................................................... 92 23 Industry Experts .............................................................................................................................. 93 24 Other Material Facts ....................................................................................................................... 93 25 Enforcement of Judgements Against Foreign Persons .................................................................... 93 26 Financial Statements ....................................................................................................................... 94 SCHEDULE “A” – MJAR Holdings Corp. Financial Statements for the years ended December 31, 2017 and December 31, 2016 SCHEDULE “B” – MJAR Holdings Corp. Financial Statements for the three and six months ended June 30, 2018 SCHEDULE “C” – MJAR Holdings Corp. MD&A for the years ended December 31, 2017 and December 31, 2016 SCHEDULE “D” – MJAR Holdings Corp MJAR Holdings Corp. MD&A for the three and six months ended June 30, 2018 SCHEDULE “E” – Sumtra Diversified Inc. Financial Statements for the years ended August 31, 2017 and August 31, 2016 SCHEDULE “F” – Sumtra Diversified Inc. Financial Statements for the for the nine months ended May 31, 2018 SCHEDULE “G” – Sumtra Diversified Inc. MD&A for the years August 31, 2017 and August 31, 2016 SCHEDULE “H” – Sumtra Diversified Inc. MD&A for
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