TSX-V: CANB
www.canadabis.com
CALGARY, July 22, 2019 /CNW/ - CanadaBis Capital Inc.
("CanadaBis" or "the Company") is pleased to announce that
Donald Cowie has joined their Board
of Directors.
Mr. Cowie has been an independent businessman since January 2018. Prior thereto he was the founding
Partner of JOG Capital Inc.; a private equity partnership
established in 2002, focused on public and private junior oil and
gas companies in Western Canada.
He has over 35 years of experience in finance and the oil and gas
industry. From 1992 to 2002, Mr. Cowie was the head of corporate
and investment banking for the Bank of America. Prior to 2002, he
served in officer and director roles for several junior oil and gas
companies and financial companies with a focus on the oil and gas
sector. Mr. Cowie has a Bachelor of Commerce degree, with a major
in finance from McGill University. Mr. Cowie has served as a
director for a number of private companies and public companies
listed on either the Toronto Stock Exchange or TSX Venture
Exchange.
"We are extremely pleased to welcome Don Cowie to our Board and look forward to
benefiting from his vast knowledge of financial markets, both from
a private equity and public company position." stated Travis McIntyre, President and CEO of CanadaBis.
"We look forward to gleaning from his wealth of experience and his
proven track record of building and leading successful teams,
employing strict capital discipline and delivering outstanding
returns to investors. We look forward to his leadership role in
taking the Company through its next phase of growth and
development."
CanadaBis has also granted to Mr. Cowie, under its Stock Option
Plan, options to purchase up to 650,000 common shares for a period
of five years commencing on July 19th, 2019 at an exercise
price of $0.32 per share. The options
will vest over a period of three years.
An aggregate of 1,500,000 common shares in the capital of the
Company held in escrow, owned or controlled by a director or
insider, will be transferred to Mr. Cowie at the price of
$0.005 per share and these shares
will be released from escrow based on the Exchange's Surplus Escrow
Schedule. The transfer price of the escrowed shares under this
arrangement is reflective of the original cost of the shares.
CanadaBis Capital, through its subsidiary Stigma Grow, currently
operates 22,000 sq/ft of production space and plans to expand this
area to 66,000 sq/ft later this year. The Company received a
standard cultivation and processing license from Health Canada on
March 8, 2019, and has recently
harvested its second crop. Stigma is currently working on a
strong Alberta brand catering to a quality experience.
Proudly offering a craft product with optimal cannabinoid profiles,
Stigma is the first Health Canada licensed producer operating in
the Red Deer area.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION: This news release includes certain
"forward-looking statements" under applicable Canadian securities
legislation. Forward-looking statements include, but are not
limited to, statements with respect to our business and operations
including development and expansion plans and the timing thereof.
Forward-looking statements are necessarily based upon a number of
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: compliance with extensive
government regulation, the general business, economic, competitive,
political and social uncertainties; requirement for further
capital, delay or failure to receive board, shareholder or
regulatory approvals; the results of operations and such other
matters as set out in the Filing Statement available on SEDAR at
www.sedar.com. 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. Investors are cautioned that
forward-looking information is not based on historical facts but
instead reflects management's expectations, estimates or
projections concerning future results or events based on the
opinions, assumptions and estimates of management considered
reasonable at the date the statements are made. Although we believe
that the expectations reflected in such forward-looking information
are reasonable, such information involves risks and uncertainties,
and undue reliance should not be placed on such information, as
unknown or unpredictable factors could have material adverse
effects on our future results, performance or achievements.
Should one or more of these risks or uncertainties
materialize, or should assumptions underlying the forward-looking
information prove incorrect, actual results may vary materially
from those described herein as intended, planned, anticipated,
believed, estimated or expected. Although the Company has attempted
to identify important risks, uncertainties and factors which could
cause actual results to differ materially, there may be others that
cause results not to be as anticipated, estimated or intended.
CanadaBis Capital does not intend, and does not assume any
obligation, to update this forward-looking information except as
otherwise required by applicable law.
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.
SOURCE CanadaBis Capital Inc.