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VANCOUVER, Oct. 30, 2019 /CNW/ - Geyser Brands Inc.
(formerly Kanzen Capital Corp.) (TSX-V: GYSR) ("Geyser
Brands" or the "Company) reports that all resolutions
were passed by the requisite majority at its Annual General Meeting
("AGM") held in Vancouver, B.C.,
on October 30, 2019.
A total of 20,723,189 common shares were represented at the AGM,
representing 67.95% of the votes attached to the 30,495,746 issued
and outstanding shares as at the record date of September 25, 2019. All of the matters
submitted to the shareholders for approval as set out in the
Company's notice of meeting and management information circular
dated September 25, 2019, were
approved by the requisite majority of votes cast at the AGM.
Shareholders voted in favour of setting the numbers of directors
at seven and the following nominees, Andreas Thatcher, Dr. Bin Huang, Aerock Fox,
Bradley Kersch, Robert Trenaman, Frank
Palmer and Timothy Murphy,
listed in the management information circular, were elected as
directors of Geyser Brands. Buckley Dodd LLP was re-appointed
as the auditor of the Company for the ensuing year and shareholders
approved the 10% rolling Stock Option Plan that was adopted on
July 9, 2018.
Following the annual general meeting, the board of directors
appointed Carlo Valente to its
board and re-appointed Andreas
Thatcher as CEO, Gordon
Clissold as CFO, Bradley
Kersch as Chairman and Jennifer
Hanson as Corporate Secretary.
The Company announces that, pursuant to its stock option plan,
it has granted stock options to certain directors, officers, and
consultants of the Company to purchase an aggregate of up to
1,590,462 common shares in the capital of the Company at an
exercise price of $0.41 per share,
expiring on October 30, 2024.
Following this stock option grant, the Company has a total of
1,920,462 outstanding representing approximately 6.30% of the
outstanding common shares of the Company on a fully diluted
basis. All option grants are subject to approval of the TSX
Venture Exchange.
In addition, Geyser Brands has engaged 2686362 Ontario
Corporation (DBA "CanaCom Group") to advise and support capital
markets communications with both traditional and online initiatives
targeting the investment community and the investing public. The
agreement with CanaCom is for one year effective October 7, 2019. The total remuneration
payable to CanaCom will be $120,000 plus GST. In addition, CanaCom has
been granted 300,000 stock options with an exercise price of
$0.41, expiring five years from
the grant date. Aside from the grant of stock options, neither
CanaCom, nor any of its principals, have an ownership interest,
directly or indirectly, in the company or its securities. The
agreement is subject to the approval of the TSX Venture
Exchange.
About Geyser Brands
Geyser Brands Inc. develops consumer product brands in the
health and wellness sector that use hemp and CBD as a value-added
ingredient. These involve next-generation formulas that focus on
the mix of cannabinoids for specific conditions such as insomnia,
anxiety and pain. Proprietary delivery technologies include all
natural nano-technology, slow-release mechanisms and non-molecule
degrading baking processes. In anticipation of coming edibles
legislation, and with its Health Canada approved Licensed
Production Facility, Geyser Brands has 15,000 sqft in two GMP
facilities in Vancouver for
edibles.
For more information, visit Geyser Brands' website at
www.geyserbrands.com.
On Behalf of the Board of Directors
"Andreas Thatcher"
____________________________________
Andreas Thatcher
Director and CEO
andreas@geyserinc.ca
Neither the 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.
This news release contains forward‐looking
statements and forward‐looking information within the
meaning of applicable securities laws. These statements relate to
future events or future performance. All statements other than
statements of historical fact may be forward‐looking
statements or information. Forward‐looking statements
and information are often, but not always, identified by the use of
words such as "appear", "seek", "anticipate", "plan", "continue",
"estimate", "approximate", "expect", "may", "will", "project",
"predict", "potential", "targeting", "intend", "could", "might",
"should", "believe", "would" and similar expressions.
Forward-looking statements and information are provided for
the purpose of providing information about the current expectations
and plans of management of the Company relating to the future.
Readers are cautioned that reliance on such statements and
information may not be appropriate for other purposes, such as
making investment decisions. Since forward‐looking
statements and information address future events and conditions, by
their very nature they involve inherent risks and uncertainties.
Actual results could differ materially from those currently
anticipated due to a number of factors and risks. These include,
but are not limited to, the risks associated with the marijuana
industry in general such as operational risks in growing;
competition; incorrect assessment of the value and potential
benefits of various transactions; ability to access sufficient
capital from internal and external sources; failure to obtain
required regulatory and other approvals and changes in legislation,
including but not limited to tax laws and government regulations.
Accordingly, readers should not place undue reliance on the
forward‐looking statements, timelines and information
contained in this news release. Readers are cautioned that the
foregoing list of factors is not exhaustive. Additional
information relating to Geyser is available
at www.sedar.com.
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 Geyser Brands Inc.