Shareholders of Grunewahl Organics Inc. Approve SugarBud’s Acquisition of Grunewahl
September 17 2018 - 7:00AM
SugarBud Craft Growers Corp. (“
SugarBud” or the
“
Company”) (trading as Relentless Resources Ltd.)
is pleased to announce that shareholders of Grunewahl Organics Inc.
(“
Grunewahl”), who voted at a special meeting of
the shareholders on September 11, 2018, unanimously approved the
previously announced acquisition (the
“
Acquisition”) of Grunewahl by SugarBud.
Closing of the Acquisition remains contingent
upon receiving approval of Change of Business of the Company from
an oil and gas company to a cannabis company (“Change of
Business”) from the TSX Venture Exchange and is subject to
closing conditions customary to transactions of the nature of the
Acquisition. The Company is working diligently to complete Change
of Business and is currently in the advanced stages of the
process.
SugarBud plans to provide updates regarding
Change of Business, the name change to SugarBud and the stock
symbol change to SUGR, the previously announced rights offering,
the previously announced second tranche of the cross-investment
with Inner Spirit Holdings Ltd. (“Inner Spirit”),
and the construction of its cannabis cultivation facility at
Stavely, Alberta (the “Facility”) as soon as
possible.
About SugarBud Craft Growers
Corp.
SugarBud is a Calgary based emerging cannabis
and oil and natural gas company engaged in the development,
acquisition and production of cannabis and natural gas and crude
oil reserves in Alberta.
For further information regarding this news
release, please contact:
Craig KolochukPresident & Chief
Executive OfficerSugarBud Craft Growers Corp. Phone: (403)
875-5665 E-mail: craigk@sugarbud.ca |
Jeff SwainsonChief Financial
OfficerSugarBud Craft Growers Corp. Phone: (403) 796-3640
E-mail: jeffs@sugarbud.ca |
Investor Relations ContactGary
Perkins, PresidentTekkfund Capital Corp.Tel: (416) 882-0020E-mail:
garyperkins@rogers.comWebsite: http://www.sugarbud.ca/Address:
Suite 620, 634 ‐ 6th Avenue S.W., Calgary, Alberta T2P
0S4Telephone: 403‐532‐4466Fax: 587‐955‐9668 |
Forward Looking and Cautionary Statements
This news release may include forward-looking
statements including opinions, assumptions, estimates, the
Company’s assessment of future plans and operations, and, more
particularly, statements concerning the completion of the
Acquisition, the rights offering, the Change of Business, the
second tranche of the Inner Spirit investment, and the construction
of the Facility. When used in this document, the words “will,”
“anticipate,” “believe,” “estimate,” “expect,” “intent,” “may,”
“project,” “should,” and similar expressions are intended to be
among the statements that identify forward-looking statements. The
forward-looking statements are founded on the basis of expectations
and assumptions made by the Company which include, but are not
limited to, the timely receipt of all required securityholder, TSXV
and regulatory approvals and the satisfaction of other closing
conditions in accordance with the terms of the amalgamation
agreement entered into between SugarBud and Grunewahl and the
investment agreement entered into between SugarBud and Inner
Spirit. Forward-looking statements are subject to a wide range of
risks and uncertainties, and although the Company believes that the
expectations represented by such forward-looking statements are
reasonable, there can be no assurance that such expectations will
be realized. Any number of important factors could cause actual
results to differ materially from those in the forward-looking
statements including, but not limited to: regulatory and third
party approvals, including receipt of cultivation and sales
licenses from Health Canada, not being obtained in the manner or
timing anticipated; the ability to implement corporate strategies;
the state of domestic capital markets; the ability to obtain
financing; changes in general market conditions; industry
conditions and events; the size of the medical marijuana market and
the recreational marijuana market; government regulations,
including future legislative and regulatory developments involving
medical and recreational marijuana; construction delays;
competition from other industry participants; and other factors
more fully described from time to time in the reports and filings
made by the Company with securities regulatory authorities. Please
refer to the Company’s annual information form (“AIF”) and
management’s discussion and analysis (“MD&A”) for the year
ended December 31, 2017 for additional risk factors relating to the
Company. The AIF and MD&A can be accessed under the Company’s
profile on www.sedar.com.
Except as required by applicable laws, the
Company does not undertake any obligation to publicly update or
revise any forward-looking statements.
Neither the TSXV nor its regulation
services provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this
release.
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