VANCOUVER, British Columbia, December 16, 2021 (GLOBE NEWSWIRE) – BC Craft Supply Co. Ltd., (CSE: CRFT) (“CRFT“or the”Society“), a diversified wellness company that advances cannabinoid and psychedelic innovation and psychotherapy, announces that, pursuant to a resolution from a director, the Company will consolidate all of its issued and outstanding share capital (the “Ordinary shares”) on the basis of each one hundred (100) old ordinary shares into one (1) new ordinary share (the “reverse stock split”), with effect from December 24, 2021 (the “reference date “).
As a result of the reverse stock split, the number of issued and outstanding common shares will be reduced to approximately 2,276,454. Any fractional common shares remaining after giving effect to the reverse stock split will be canceled. The exercise or conversion price and the number of common shares issuable under any of the outstanding convertible securities of the Company will be adjusted proportionately upon the reverse stock split.
New ISIN code: CA07335D2014
New CUSIP: 07335D201
The common shares are expected to begin trading after the reverse stock market opens on the Canadian Securities Exchange on December 23, 2021.
Shareholders of record on the record date will receive a letter of transmittal containing instructions for the exchange of their common shares as soon as possible after the record date.
The Company believes that the Consolidation will make the Company more attractive for financing opportunities and allow the restructuring and settlement of certain existing liabilities. Completion of the consolidation remains subject to the completion of the appropriate regulatory filings with the Canadian Securities Exchange.
About BC Craft Supply Co. Ltd.
BC Craft Supply Co. Ltd. is a diverse wellness company advancing cannabinoid and psychedelic innovation and psychotherapy. The company offers a reinvented vision of the craft markets through collaboration, expertise and adaptation. Its operations include:
- CRFT a curator and aggregator of artisanal cannabis, providing advocacy and access for high-end small batch producers to the Canadian cannabis market;
- Medcann Health Products – a cultivation and processing facility at Chemainus BC;
- Feelwell brands, a successful cannabinoid brand house licensed in the State of California; and
- AVA course a preclinical biotechnology company focused on neuroplasticity and mental health applications using psilocybin and compounds derived from fungi.
BC Craft works with local artists from all walks of life and remains firmly committed to preserving the artistry, technique and purity of their quest.
To follow @BC_Craft on Twitter for the latest updates.
THE CANADIAN SECURITIES EXCHANGE (THE “CSE”) HAS NEITHER APPROVED OR REJECTED THE CONTENT OF THIS PRESS RELEASE. NEITHER THE CSE NOR ITS MARKET REGULATOR (AS DEFINED IN CSE POLICIES) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS COMMUNICATION.
CAUTION REGARDING FORWARD-LOOKING INFORMATION:
This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this press release. Any statement involving discussions regarding predictions, expectations, beliefs, plans, projections, goals, assumptions, future events or performance, “anticipates” or “does not anticipate”, “plans”, “budget”, “planned”, ” foresees “,” considers “,” considers “,”, “intends to” or variations of these words and expressions or indicating that certain actions, events or results “may” or “could”, “would” , “Could” or “would” will be considered to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this press release, forward-looking statements include, without limitation, the anticipated closing of the private placement.
Forward-looking statements are necessarily based on a number of estimates and assumptions which, although believed to be reasonable, are subject to known and unknown risks, uncertainties and other factors that may cause actual results to occur. and future events differ materially from those expressed or implied. by such forward-looking statements. These factors include, but are not limited to, general business, economic, competitive, political and social uncertainties. There can be no assurance that forward-looking statements will prove to be correct, as actual results and future events could differ materially from those anticipated in such statements. Therefore, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, CRFT assumes no obligation to update any forward-looking statements of beliefs, opinions, projections or other factors, in the event of change, except as required by law.
For more information:
Matthew Watters, CEO and Director
Telephone: (604) 687-2038.
Email: [email protected]
BC Craft Supply Co. Ltd.
Office 810 – 789 Pender Street West
Vancouver, British Columbia