Broome Capital Receives Conditional Acceptance for CSE Listing
29 Mai 2019 - 1:30PM
Broome Capital Inc. (TSXV: BCP) (the “
Company”) is
pleased to announce that it has received conditional acceptance for
its planned listing on the Canadian Securities Exchange (CSE).
The Company is in the process of completing a
reverse-takeover transaction involving Pasha Brands Ltd.
(“
Pasha”), Canada’s largest craft cannabis brands
organization, following which it is anticipated that the Company
will transfer its listing to the CSE under the name “Pasha Brands
Ltd.”, and will trade under the ticker symbol
“
CRFT”.
In connection with completion of the transaction
with Pasha, and the listing on the CSE, the Company anticipates
that its common shares will be delisted on the TSX Venture Exchange
at the close of market on May 30, 2019.
About Pasha
Pasha has raised approximately $25 million in
the past two quarters and procured some of Canada’s most renowned
pre-legalization craft cannabis brands. Pasha is now positioned to
accelerate its growth with its wholly owned subsidiary, BC Craft
Supply Co. Ltd. (“BC Craft”), which expects to
manage the production and processing of craft cannabis under Health
Canada’s regulatory framework. BC Craft will work with craft
cannabis producers in Canada and assist them in obtaining their
micro-cultivation licenses with Health Canada – a program that
began on October 17, 2018.
There is a growing supply gap for cannabis in
Canada as licensed producers are unable to meet consumer demand.
Through its subsidiaries, Pasha will be Canada’s first all craft
licensed producer and will focus exclusively on bringing
micro-cultivators into the market. Under the Health Canada
framework, each micro-cultivator can legally process approximately
500 kilograms of dried flower per year. More than just a viable
solution for closing the supply gap, this provides consumers with
high-quality craft cannabis products that are differentiated from
others in the space. Under the micro-cultivation program, the BC
Craft network will look to add and assist hundreds of producers.
For every 100 micro-cultivators BC Craft secures, up to 50,000
kilograms of world-class craft cannabis could be available to the
market via Canada’s regulated supply chain.
New to the public markets, Pasha and its brands
are no stranger to Canada’s craft cannabis community. Pasha’s ranks
include brands and farmers that have helped establish British
Columbia’s reputation as home of the world’s best cannabis. Trusted
by independent growers and supported by an experienced management
team and board, the brand is well poised for growth.
Further information regarding the listing of the
Company on the CSE, and completion of the transaction with Pasha,
will be provided as soon as it becomes available. Completion
of the listing on the CSE remains subject to the satisfaction of
customary conditions to listing imposed by the policies of the
CSE.
Further information regarding Pasha is available
by contacting the following:
Investor Relations ContactNick
Barnesnick@pashabrands.com(778) 400-4220
Media ContactEmerald
Asuncioncommunications@pashabrands.com (236) 521-5135
On behalf of the Board,
BROOME CAPITAL INC.
Gunther Roehlig, Chief Executive Officer
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 includes certain
“forward-looking statements” under applicable Canadian securities
legislation. Forward-looking statements include, but are not
limited to, statements with respect to the terms and conditions of
the proposed transaction with Pasha; and the proposed listing of
the Company on the Canadian Securities Exchange.
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: general business, economic, competitive, political and
social uncertainties, uncertain capital markets; and delay or
failure to receive board, shareholder or regulatory
approvals. There can be no assurance that the Transaction
will proceed on the terms contemplated above or at all and 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. The Company disclaims
any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law.
Broome Capital Corp (TSXV:BCP)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Broome Capital Corp (TSXV:BCP)
Historical Stock Chart
Von Jul 2023 bis Jul 2024