|Bid||0.0350 x 0|
|Ask||0.0450 x 0|
|Day's Range||0.0000 - 0.0000|
|52 Week Range|
|Beta (5Y Monthly)||2.13|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ALL FIGURES IN CANADIAN DOLLARS UNLESS OTHERWISE SPECIFIED.LOS ANGELES, Sept. 22, 2020 (GLOBE NEWSWIRE) -- Ventura Cannabis and Wellness Corp. (CSE:VCAN) (“VCAN”, or the “Company”) is pleased to announce it has set a record date of September 21, 2020 (the “Dividend Record Date”) for the dividend to its shareholders of the shares and warrants in Vibe Bioscience Ltd. (“Vibe”) that VCAN received in connection with the Cathedral sale transaction which closed on September 16, 2020. Each VCAN shareholder of record on the Dividend Record Date will be entitled to receive 1 common share of Vibe for every 55 VCAN shares held and 1 purchase warrant of Vibe for every 46 VCAN shares held. Each warrant is exercisable for one share of Vibe at a price of $0.60 per Vibe common share and will expire on September 16, 2021. Fractional shares and warrants will not be issued to the shareholders. The Company further announces that it is in the process of printing and mailing the meeting materials for the Company’s special meeting (the “Meeting”) to be held on October 23, 2020. The mailing of the Meeting materials will be completed on or before September 29, 2020. When the mailing is complete, a copy of the Meeting materials including the management information circular prepared in respect of the Meeting will be posted under the Company’s profile at www.sedar.com.At the Meeting, the Company’s shareholders will be asked to consider and approve special resolutions approving the previously announced sale of Portland Asset Holding Corporation (“PAHC”) to Vibe and approving the distribution of the shares and warrants received from Vibe in that transaction to the Company’s shareholders. Shareholders will further be asked to consider and approve ordinary resolutions approving the delisting of the Company’s common shares from the Canadian Securities Exchange (“CSE”) and the voluntary dissolution, following a potential distribution of remaining assets once all liabilities are settled, of the Company.VCAN’s management and board believe the sale of PAHC and subsequent proposed actions to be considered at the Meeting are in the best interests of the Company and its shareholders given the Company’s disclosed contingent liabilities and dwindling cash and balance sheet. Management also believes the Company’s shareholders will benefit from their participation in Vibe’s expanding cannabis business.Vibe has been one of the best performing cannabis stocks on the CSE in the past year and its net earnings margin exceeds most of its CSE-listed peers. Vibe generated cash flow in the second quarter of 2020 and is projecting to generate cash flow in the third quarter. Vibe currently owns retail stores in Sacramento, Stockton, and Redding and intends to open a retail store in Ukiah, CA, before the end of the year. It is also working on new store development projects in three other Northern California locations. Vibe also owns and operates cultivation assets in Crescent City, CA, and Sacramento, CA.Ventura Cannabis and Wellness Corp. Chris Heath CEO (424) 372-1123 email@example.com www.venturacanna.comCertain statements contained in this presentation constitute “forward-looking information” as such term is defined in applicable Canadian securities legislation. The words “may”, “would”, “could”, “should”, “potential”, “will”, “seek”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect”, “confident” and similar expressions as they relate to the Company. Such statements reflect the Company’s current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties, and assumptions. The forward-looking information included are made as of September 22, 2020, and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law. VCAN holds or is acquiring marijuana assets in the United States. Previously disclosed acquisitions are still subject to closing. Marijuana is legal in each state VCAN is looking to operate, however marijuana remains illegal under US federal law, and the approach to enforcement of US federal law against marijuana is subject to change. Shareholders and investors need to be aware that adverse enforcement actions could affect their investments and that VCAN’s ability to access private and public capital could be affected and or could not be available to support continuing operations.
Not for distribution to United States newswire services or for dissemination in the United States. All figures in canadian dollars unless otherwise specified. LOS ANGELES, Sept. 17, 2020 (GLOBE NEWSWIRE) -- Ventura Cannabis and Wellness Corp. (CSE:VCAN) (“Ventura Cannabis”, “VCAN”, or the “Company”) is pleased to announce that it has completed the Company’s sale of Cathedral Asset Holding Corporation (“CAHC” or “Cathedral”) to Vibe Bioscience (CSE:VIBE) (“Vibe”) described in its press release of August 30, 2020.SummaryIn payment of the purchase price, VCAN has been issued 669,398 common shares of Vibe (the “Payment Shares”) which it will distribute to VCAN shareholders shortly. As additional consideration for the sale of Cathedral, Ventura will also receive 800,000 share purchase warrants, each exercisable for one common shares of Vibe at an exercise price of $0.60 per share for a term of twelve months following closing of the sale of Cathedral. Ventura plans to distribute these warrants to its shareholders concurrently with the distribution of the Payment Shares.VCAN will issue a further news release next week providing additional information respecting the distribution of the Payment Shares and warrants, and confirming the posting on SEDAR of the management information circular for its October 23, 2020 special meeting of shareholders.Ventura Cannabis and Wellness Corp. Chris Heath CEO (424) 372-1123 firstname.lastname@example.org www.venturacanna.comCertain statements contained in this presentation constitute “forward-looking information” as such term is defined in applicable Canadian securities legislation. The words “may”, “would”, “could”, “should”, “potential”, “will”, “seek”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect”, “confident” and similar expressions as they relate to the Company. Such statements reflect the Company’s current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties, and assumptions. The forward-looking information included are made as of September 17, 2020, and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law. VCAN holds or is acquiring marijuana assets in the United States. Previously disclosed acquisitions are still subject to closing. Marijuana is legal in each state VCAN is looking to operate, however marijuana remains illegal under US federal law, and the approach to enforcement of US federal law against marijuana is subject to change. Shareholders and investors need to be aware that adverse enforcement actions could affect their investments and that VCAN’s ability to access private and public capital could be affected and or could not be available to support continuing operations.
SACRAMENTO, Calif., Sept. 17, 2020 (GLOBE NEWSWIRE) -- Vibe Bioscience Ltd. (CSE:VIBE, OTC:VBSCF, GERMANY:A061) (the "Company" or "Vibe"), a California based cannabis retailer and cultivator, is pleased to announce that, further to the Company's press release dated August 30, 2020, it has finalized the previously announced transaction (the "Transaction") to acquire Cathedral Asset Holding Corporation ("CAHC") and its distribution and manufacturing assets in Santa Rosa, California ("Santa Rosa facility"). Vibe has possession and operational control as of today. CAHC is a wholly-owned subsidiary of Ventura Cannabis and Wellness Corp. (CSE: VCAN) ("Ventura"). The Santa Rosa facility is licensed for the distribution and manufacturing of regulated cannabis products. It will allow Vibe to complete logistics and fulfillment from its cultivation facilities to its retail store network, allowing for the transportation, packaging, labeling, testing, storage, and transfer of its marijuana products. The manufacturing license will allow Vibe to expand its Hype Cannabis Co.TM product line and produce a wide variety of all-natural Hype Cannabis Co.TM products. "This opportunity would not have come to fruition without the strength of our highly skilled executive team, who have displayed the ability to profitability operate cannabis assets in highly competitive markets," said Mark Waldron, CEO of Vibe.Terms of the TransactionIn connection with the Transaction, Vibe has acquired all the issued and outstanding shares of Cathedral for CAD$333,360 in an all-share transaction based upon Vibe's 30-day volume-weighted average price ("VWAP") for the period ended September 10, 2020. The Company has assumed the lease obligation for the Santa Rosa facility and the existing inventory of vape products. Ventura received 669,398 common shares and 800,000 warrants, each to acquire one common share of Vibe at an exercise price of C$0.60 for a term of twelve months. Transaction HighlightsSanta Rosa Distribution * Significantly expands California logistics & fulfillment capabilities * Allows for the transportation, packaging, labeling, testing, storage, and transfer of regulated cannabis products * Provides fast distribution network and an advanced inventory management platform to ship product to stores within 24 hours * Enables secure and environment-controlled storage of cannabis products * Promotes supply chain integrity * Allows for improved delivery speed of fresh clones from our nursery to our stores * Simplifies existing complex supply chain network, from laboratory testing to legal requirements * Helps coordinate, create, and implement in-store promotions, digital advertising & print materialsSanta Rosa Manufacturing * Allows manufacturing to produce additional Hype Cannabis Co. products * Creates the ability to produce a wide variety of Hype Cannabis Co. pesticide-free products to the highest standards for quality and potency * Enables pharmaceutical level processes to deliver superior quality, all-natural cannabis products * Expands plant preparation and harvesting from our cultivation facility * Ensures the cleanest, safest, and most efficient production processes yielding the highest quality productAppointment to Vibe Board of DirectorsVibe is pleased to announce that Mr. Gordon D. Anderson has been appointed to its Board of Directors. Gord Anderson B.Ed., CFP, CLU, CH, F.C is a highly respected and seasoned business veteran with over 45 years of experience in financial planning and currently serves as the President of the Freestyle Group of Companies. Mr. Anderson has served as Chief Executive Officer (CEO), Chief Financial Officer (CFO), President and Director of sixteen (16) publicly traded companies, as well as numerous private companies and volunteers for several non-profit and charitable organizations. Mr. Anderson holds a Bachelor of Education degree from the University of Regina and has been employed with London Life in a variety of management positions since 1975.Mr. Anderson joins the Board as a replacement for Jim Meloche. Vibe wishes to thank Mr. Meloche for his support as a Board member through the transition from a private to public company over the past two years. As Vibe contemplates further acquisition activities to continue its growth trajectory, Mr. Meloche and Origin Merchant Partners will continue to act as significant advisors to the Company. About Vibe Bioscience Ltd. Vibe is an integrated cannabis company delivering exceptional retail experiences with its Vibe By CaliforniaTM brand and ethos, premier cultivation product and high-efficiency delivery, and on-line sales. The Company's management team brings expertise in retail, cannabis cultivation, and mergers and acquisitions to support its U.S. expansion through accretive acquisitions and organic growth. Vibe is listed on the Canadian Securities Exchange under the symbol VIBE, on the OTC under symbol VBSCF, and in Germany as A061. To learn more about Vibe, please visit www.vibebycalifornia.com.Forward-Looking InformationCertain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "anticipate", "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties' current belief or assumptions as to the outcome and timing of such future events, and may be impacted as a result of general economic conditions or the ongoing COVID-19 pandemic. Actual future results may differ materially. The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein. Risk factors related to the Company are described in the Company's Management Discussion and Analysis, a copy of which is available under the Company's profile on SEDAR.This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any State securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable State securities laws or an exemption from such registration is available. Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. securities laws. Unlike in Canada which has Federal legislation uniformly governing the cultivation, distribution, sale and possession of medical cannabis under the Cannabis Act (Federal), readers are cautioned that in the U.S., cannabis is primarily regulated at the State level. To the knowledge of Vibe Bioscience Ltd., there are to date a total of 33 states, plus the District of Columbia, that have legalized cannabis in some form. Notwithstanding the permissive regulatory environment of medical cannabis at the State level, cannabis continues to be categorized as a controlled substance under the Controlled Substances Act in the U.S., and as such, cannabis-related practices or activities, including without limitation, the manufacture, importation, possession, use or distribution of cannabis are illegal under U.S. Federal law. Strict compliance with State laws concerning cannabis will neither absolve Vibe Bioscience Ltd. of liability under the U.S. Federal law, nor will it provide a defense to any Federal proceeding, which may be brought against Vibe Bioscience Ltd. Any such proceedings brought against Vibe Bioscience Ltd. may adversely affect its operations and financial performance.Company ContactMichal Holub, CFO Phone: + 1 833-420-VIBE x107 Email: email@example.com