Alchemist Mining Inc. said Dec. 20 that it signed a nonbinding letter of intent to acquire either a 40% stake in Cannabis Experience Signature or the entity owning the software.

The company will pay the arm's length vendors C$200,000 for the stake, to be split equally between cash and shares. The transaction remains subject to various conditions and approvals, including executing formal agreements.

Alchemist recently dropped an option earlier in the month to acquire a 70% interest in Great Thunder Gold Corp.'s Nemaska Lake lithium property in Quebec.