Orchid Ventures, Inc. (the “Company”) announces that further to its press release of March 8, 2019, it has now received final approval from the Canadian Securities Exchange (the “CSE”) and the Company’s common shares will commence trading on the CSE on March 18, 2019 under the symbol “ORCD”.
In connection with the CSE listing, the Company also announces that 11,350,000 incentive stock options were granted to directors, officers and employees of the Company in accordance with the Company’s stock option plan (the Option Plan”). The options have an exercise price of $0.33 per share and are exercisable for a period of five years unless terminated pursuant to the terms of the Option Plan. The options and any shares issued upon exercise thereof will be subject to a hold period of four months and one day from the date of grant.
Orchid is an award-winning cannabis brand with THC and CBD product lines currently sold in 250+ dispensaries across California and Oregon. Orchid plans to expand its brand into new markets such as Nevada, New York, Puerto Rico, Canada and other global markets. With a continued focus on brand and intellectual property development, Orchid will execute strategic acquisitions to solidify an integrated cannabis manufacturing and distribution infrastructure with the goal of becoming a dominant premium cannabis brand in the United States. Orchid’s management brings significant branding, product development, manufacturing, and distribution experience with a proven track record of scaling revenues, building value generating partnerships, and creating enterprise value.
ON BEHALF OF THE BOARD of DIRECTORS
Orchid Ventures, Inc.
For further information please contact:
The CSE does not accept responsibility for the adequacy or accuracy of this 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 “will” 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.. 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. The Company does not undertake to update these forward-looking statements, except as required by law.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.