CALGARY, April 30, 2019 /CNW/ - Westleaf Inc. (TSX-V:
WL) (OTCQB: WSLFF) ("Westleaf") announces that it has
received voluntary commitments from each of its executive officers
and directors (the "D&O's") pursuant to which the
D&O's have agreed that they will not offer, sell, assign,
transfer, contract to sell or otherwise dispose of, or announce the
intention to otherwise dispose of, any of their common shares of
Westleaf ("Westleaf Shares") or any securities convertible
into Westleaf Shares such that all of the Westleaf Shares held
either directly or indirectly by D&O's will now be restricted
from any trading, unless approved by Westleaf's board of directors,
until September 29, 2019. This
commitment is in addition to any escrow imposed by the TSX Venture
Exchange.
![Westleaf Inc. (CNW Group/Westleaf Inc.) Westleaf Inc. (CNW Group/Westleaf Inc.)](https://mma.prnewswire.com/media/879755/Westleaf_Inc__Westleaf_Announces_That_Its_Executive_Officers_and.jpg)
"Westleaf's directors and officers remain committed to Westleaf
and its growth, and their voluntary commitment to not sell their
Westleaf Shares or their securities convertible into Westleaf
Shares, as an act of good faith, is expected to send a positive
message to our shareholders," stated Scott
Hurd, Director, President and CEO.
About Westleaf Inc.
Westleaf is a vertically integrated cannabis company focused on
innovative retail experiences and engaging cannabis brands as well
as cultivation, production and extraction of cannabis products.
Westleaf is rolling out a national retail footprint for its retail
concept Prairie Records, with stores planned for British Columbia, Alberta, Saskatchewan and potentially Ontario. The retail concept leverages the
instinctual tie between recreational cannabis and music and
redefines the cannabis purchasing experience. Westleaf also has two
significant production facilities under construction, with
completion anticipated to occur in 2019. For more information,
please visit http://www.westleaf.com or www.prairierecords.ca.
Cautionary Statements
This news release contains "forward-looking information" and
"forward-looking statements" (collectively, "forward-looking
statements") within the meaning of the applicable Canadian
securities legislation. All statements, other than statements of
historical fact, are forward-looking statements and are based on
expectations, estimates and projections as at the date of this news
release. Any statement that involves discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives,
assumptions, future events or performance (often but not always
using phrases such as "expects", or "does not expect", "is
expected", "anticipates" or "does not anticipate", "plans",
"budget", "scheduled", "forecasts", "estimates", "believes" or
"intends" or variations of such words and phrases or stating that
certain actions, events or results "may" or "could", "would",
"might" or "will" be taken to occur or be achieved) are not
statements of historical fact and may be forward-looking
statements. In this news release, forward-looking statements
relate, among other things, completion of the production facilities
and timing thereof. Forward-looking statements are necessarily
based upon a number of estimates and 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, receipt of all regulatory approval and
completion of construction. 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
the forward-looking statements and information contained in this
news release.
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
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SOURCE Westleaf Inc.