CBD Med Research Corp. (TSXV:CBMH) (the “Company”) announces that the Company will change its name to World Class Extractions Inc. and subdivide its common shares on the basis of three new common shares for every one existing common share (the “Share Split”), effective as of February 28, 2019 (the “Effective Date”).
Registered shareholders of the Company will receive two additional common shares for each common share held as of February 27, 2019 (the “Record Date”). The Company’s transfer agent, Computershare Investor Services Inc. (“Computershare”), will send to each registered shareholder a share certificate representing the number of additional common shares that they are to receive as a result of the Share Split. Non-registered shareholders who hold their shares through an intermediary will have their accounts automatically updated to reflect the Share Split.
Immediately prior to completion of the Share Split, the Company has 9,671,525 common shares issued and outstanding. After giving effect to the Share Split, the Company will have approximately 29,014,575 common shares issued and outstanding.
Further to the Company’s news release dated February 21, 2019, the Company’s common shares will be delisted from trading on the TSX Venture Exchange effective at the close of trading on February 26, 2019 in connection with the proposed reverse take-over transaction of the Company (the “Proposed Transaction”). The resulting issuer that will exist upon completion of the Proposed Transaction intends to apply to the Canadian Securities Exchange (“CSE”) for approval for listing its common shares on the CSE.
ON BEHALF OF THE BOARD OF DIRECTORS
“Gary F Zak”
Gary F. Zak, Chief Executive Officer
For further information, please contact: Gary F. Zak email@example.com or 604-802-7551
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The CSE has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the word, “may”, “will”, “proposes”, “expects”, “anticipates”, “intends” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. This news release contains forward-looking statements and assumptions pertaining to the following: the name change of the Company, the Share Split, delisting the Company’s common shares from the TSXV, listing the Company’s common shares on the CSE, and the Proposed Transaction. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct.