Lineage Grow Company Ltd. (CSE:BUDD) is pleased to announce that it has received final approval from the Canadian Securities Exchange (“CSE”) for listing its common shares, and expects that trading will begin effective on Monday, March 5th, on the CSE under the symbol “BUDD”.
The Company closed the last tranche of a non-brokered private placement on February 16th, 2018 for gross proceeds of $3,032,416 for all four tranches (see press release dated February 20th, 2018). These proceeds will help fund strategic initiatives being rolled out in the coming months as well as general working capital.
David Drutz, CEO of Lineage commented, “Listing on the CSE represents an important corporate milestone for Lineage and a key piece of our plan to enhance shareholder value through increased stock liquidity and market exposure. This is a significant accomplishment, highlighting the progress our management team and Board have made in executing our strategic vision. We believe trading on the CSE will expand the pool of potential investors and will bring other benefits of a listed company. We are excited to enter this next phase in our corporate evolution.”
About Lineage Grow Company Ltd.
Lineage Grow Company Ltd. is focused on establishing, either directly or through joint venture with licenced producers, state-of-the-art cultivation facilities and a view towards developing a dominant brand of premium quality craft cannabis. Lineage is seeking to deploy advanced cultivation techniques and best-of-breed genetics to develop brands of craft cannabis known for emphasizing the unique flavors, smells, and potencies of each individual strain. By leveraging innovative agricultural and technological solutions, Lineage intends to optimize the variable costs associated with cannabis cultivation and successfully produce craft cannabis at a commercially viable industrial scale.
For further information, please contact:
David Drutz, CEO
Lineage Grow Company Ltd.
This news release may contain forward-looking statements and information based on current expectations. Any such forward-looking statements may be identified by words such as “expects”, “anticipates”, “believes”, “projects”, “plans” and similar expressions. Forward looking information in this news release includes the following statements: (i) expected trading date on the CSE; (ii) expected use of proceeds of the private placement; (iii) management’s belief that the listing on the CSE will increase pool of potential investors and bring other benefits; (iv) management’s plan to deployment advanced cultivation techniques and best-of-breed genetics, and (v) Lineage’s intention to optimize the variable costs associates with cannabis cultivation and successfully produce craft cannabis at a commercially viable industrial scale.
These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such risks include operational risks; U.S. federal regulation risks; variation in state regulations; change of cannabis laws; security risks; risks related to operational permits and authorizations; risks on liability, enforcement complaints etc.; banking risks; risk that the Company’s limited operating history makes evaluating its business and prospects difficult; need for funds; risk that the Company may be exposed to infringement or misappropriation claims by third parties, which, if determined adversely to the Company, could subject the Company to significant liabilities and other costs; risk that the Company may need to incur significant expenses to enforce its proprietary rights, and if the Company is unable to protect such rights, its competitive position could be harmed; risks related to trade secrets; risk that Company is dependent upon its existing management, its key research and development personnel and its growing and extraction personnel, and its business may be severely disrupted if it loses their services; risk of potential for conflict of interest; risk related to inability to innovate and find efficiencies; competition risks; risk that a drop in the retail price of medical marijuana products may negatively impact the business; consumer acceptance of marijuana; potential future acquisitions and/or strategic alliances may fail to materialize and may have an adverse effect on the Company’s ability to manage its business; risk on management of growth; risk related to general economic trends; tax risk and currency fluctuation risks. For details of the risks faced by the Company, please see the Company’s listing statement dated February 26, 2018 available at www.sedar.com under the Company’s profile. There is no certainty that any of these events will occur. Although such statements are based on management’s reasonable assumptions, there can be no assurance that such assumptions will prove to be correct.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by applicable securities laws.