OTTAWA, March 26, 2014 /CNW/ - LW Capital Pool Inc.
("LW CPI") (TSXV: LWI.H) and Tweed Inc. ("Tweed") are
pleased to announce that as of March 25,
2014 they filed a filing statement on www.SEDAR.com relating
to the proposed transaction pursuant to which Tweed will complete a
reverse takeover of LW CPI (the "Transaction").
The filing statement was prepared and filed pursuant to the
policies of the TSX Venture Exchange (the "Exchange") and
provides information with respect to LW CPI, Tweed and the proposed
Transaction.
LW CPI is a Capital Pool Company listed on the NEX board of the
Exchange. LW CPI has not commenced commercial operations and
has no assets other than cash. The Transaction, if completed,
will constitute LW CPI's "Qualifying Transaction", as defined in
Exchange policies.
Tweed was incorporated under the Business Corporations
Act (Ontario) on January 22, 2010 and became a licensed producer
of medical marijuana on January 27,
2014. The principal activities of Tweed are the production
and sale of marijuana out of its facility in Smiths Falls, Ontario as regulated by the
Marihuana for Medical Purposes Regulations.
For further details about LW CPI and Tweed please refer to the
filing statement on www.SEDAR.com.
The parties will immediately move forward with closing the
Transaction and intend to submit all materials to the Exchange in
order to satisfy the Exchange's listing conditions as soon as
possible. Trading in the common shares of LW CPI was halted
as of January 2, 2014 in anticipation
of the Transaction. Once the Exchange's final listing
conditions are satisfied the Exchange will issue a final Exchange
Bulletin and the trading halt will be lifted on the second business
day thereafter. A further press release will be issued
following closing of the Transaction.
Following closing of the Transaction, the shares are expected to
list on the Exchange under the symbol "TWD".
Completion of the Transaction is subject to a number of
conditions, including but not limited to acceptance by the
Exchange. There can be no assurance that the Transaction will be
completed as proposed or at all.
Investors are cautioned that, except as disclosed in the filing
statement, any information released or received with respect to the
Transaction may not be accurate or complete and should not be
relied upon. Trading in the securities of a capital pool company
should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the
merits of the proposed transaction and has neither approved nor
disapproved the contents of this press release.
Forward-Looking Information
This press release contains forward-looking information based on
current expectations. Statements about the closing of the
Transaction and the expectations regarding listing on the Exchange
are all forward-looking information. 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.
Although such statements are based on management's reasonable
assumptions, there can be no assurance that the Transaction will
occur or that, if the Transaction does occur, it will be completed
on the terms described above. LW CPI and Tweed assume no
responsibility to update or revise forward-looking information to
reflect new events or circumstances unless required by law.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE LW Capital Pool Inc.