The new combined company will see UK SPAC rebranded as Hellenic Dynamics plc, according to the prospectus published today (15 November).
Once admitted, it will be the first medical cannabis cultivator listed on the main London Stock Exchange.
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Under the terms of the acquisition, 10,414,447,530 ordinary shares of £0.001 each will be issued to the shareholders of Hellenic Dynamics at a price of 0.3 pence each.
There will also be 250 million new ordinary shares at a subscription price of £0.003 each to raise £750,000.
Issuing unsecured convertible loan notes will raise a further £375,000, and the holders will be able to convert at a price of 0.3 pence.
Hellenic Dynamics is expecting to raise gross proceeds of £1.1m from a combination of the subscription and the issue of the loan notes.
Peter Jay, UK SPAC chair, said the last 18 months getting today's deal over the line "have been challenging and, at times, difficult".
However, he added with the announcement today of the first successful UK listing of a medical cannabis grower, "all our efforts have been rewarded".
He said: "Having had a very long period of working alongside the Hellenic team and getting to know them and to understand their business, we believe that the company that was formerly Mountfield Group is now in very good hands and has exciting prospects."
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Davinder Rai, Hellenic Dynamics CEO, said: "We look forward to our life as a public company and maintain our ambition to be the leading European supplier of competitively priced, THC dominant, medical cannabis products to patients."
Kanabo, another medical cannabis producer, acquired an interest of over £750,000 worth of shares in Hellenic Dynamics on 24 May 2021, which it will receive as part of the proposed listing of Hellenic Dynamics.