CROP Infrastructure Corp. announces that Michael Yorke has stepped down as CEO and that Arif Merali has been appointed as the Company’s interim CEO.
CROP Infrastructure Corp. (CSE:CROP, OTC:CRXPF, Frankfurt: 2FR) (“CROP” or the “Company”) announces that, effective January 13, 2020, Michael Yorke has stepped down as the Chief Executive Officer (“CEO”) of the Company and that Arif Merali has been appointed as the Company’s interim CEO. Mr. Yorke remains a director of the Company. The Company wishes to thank Mr. Yorke for his contributions as CEO.
The Company also announces that the effective date of the proposed consolidation of its issued and outstanding common shares (the “Consolidation”) has been amended from January 15, 2020 to January 16, 2020. In connection therewith, the Company also announced that it expected to change its name to “Vert Infrastructure Corp” and, effective at the commencement of trading following the proposed Consolidation, that it expected to trade its common shares under the new stock symbol “VVV”. The Company wishes to clarify that the suffix “Corp” was announced in error as the Company’s name is expected to be changed to “Vert Infrastructure Ltd.”.
The Company would also like to clarify that its Oklahoma Ventures Group, LLC farm is located in Chelsea, Oklahoma and not Purcell, Oklahoma as stated in the January 10, 2020 update.
About CROP Infrastructure Corp.
CROP is publicly listed on the CSE and trades under the symbol “CROP”, in the US on the OTC under the symbol “CRXPF”, and on the Frankfurt exchange under the symbol “2FR”. CROP has developed a portfolio of asset investments including; two in Washington State, medical and recreational in California, a 1,012-acre Nevada Cannabis farm and a 315-acre Hemp CBD farm.
Disclaimer for Forward-Looking Information
This press release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements in this news release include, but are not limited to, statements regarding the Company’s proposed Consolidation and name change. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the ability of creditors and regulators to delay or prevent the proposed Consolidation; the ability of the Company to give effect to its business plan; and the uncertainties surrounding the cannabis industry in North America. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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