CORONA, California, March 18, 2021 / PRNewswire / - Ikänik Farms (the "Company") is pleased to announce that the Company has received conditional approval from the Canadian Stock Exchange (the "CSE") to list the shares of the Company to trade on the CSE, under the ticker symbol "IKNK", upon completion of its previously announced transaction with Canadian Imperial Venture Corp. ("CIVC") (TSXV: CQV.H).
"We are very excited about the future of Ikänik, as we transition to a public company and continue to execute on our multinational goals." said Brian Baca, CEO of Ikänik Farms, Inc.
The Company previously announced that it had entered into a business combination agreement with CIVC whereby the Company agreed to sell all the issued and outstanding securities of Ikänik Farms and the Ikänik Farms business through a three-corner merger (the "Transaction"). . The Transaction will result in a reverse acquisition of CIVC by Ikänik Farms security holders.
"We are proud to open our company to the world." said Borja Sanz from Madrid, president of Ikänik Farms International, Inc.
Closing the transaction
The closing of the Transaction and the listing of the Company's shares in the CSE remains subject to the fulfillment of several standard conditions for a transaction of this nature, which include, among others: (i) the receipt of all regulatory requirements, of shareholders and necessary third parties. consents, waivers and approvals, including acceptance by the TSX Venture Exchange regarding the voluntary disposal of the Company's shares; and (ii) completion of all pending CSE application documentation and payment of fees in accordance with applicable CSE policies.
About Ikänik farms
Ikänik Farms is building a dynamic portfolio of cannabis brands, inspired by their passion for health and wellness and action sports. Through the development of its operations in Colombia (Pideka), Ikänik aims to support the global pharmaceutical demand for a variety of cannabis products. Ikänik's leadership brings decades of experience in R&D, cultivation, retail, branding and corporate finance with the ambition to build the most iconic multinational "seed for sale" operator, "MNO". Ikänik Farms operations are currently in Colombia and California.
The completion of the Transaction is subject to a number of conditions, including, but not limited to, necessary shareholder approvals, acceptance by the TSX Venture Exchange of the opt-out of CIVC common shares, and acceptance by part of the Canadian Stock Exchange. of the quotation of the subordinated shares with voting rights of the resulting issuer. There can be no guarantee that the Transaction will be completed as proposed or at all.
Investors are cautioned that, except as indicated in the management information circular or listing statement to be prepared in connection with the Transaction, any information disclosed or received in respect of the Transaction may not be accurate or complete and it should not be trusted. Trading in the Company's securities should be considered highly speculative.
Neither the CSE nor the TSX Venture Exchange has in any way endorsed the merits of the Proposed Transaction and neither approved nor disapproved of the content of this press release.
None of the securities issued in connection with the Transaction will be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States without registration or an exemption from the registration requirements of the 1933 Act. This press release will not constitute an offer to sell or a solicitation of an offer to buy nor will there be any sale of the securities in any state where such offer, solicitation or sale is illegal.
This press release includes "forward-looking information" and "forward-looking statements" within the meaning of Canadian securities laws and the securities laws of the United States (collectively, "forward-looking information). In this press release they address activities, events or developments that the Company expects or anticipates to occur or may occur in the future is forward-looking information. When used in this press release, words such as "will", "could", "plan", "estimate", "expect "," pretend "," may "," potential "," believe "," should "and similar expressions, are forward-looking information, including, but not limited to, corporate requirements the approvals of the directors and shareholders of the parties may not obtained; the TSX Venture Exchange may not approve the opt-out of the list; and other risks that are common in transactions of this nature. There can be no guarantee that any of the events anticipated by the forwa First class statements will be produced or, if they occur, what benefits the Company will derive from them.
Although the Company has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking information, there may be other factors that cause the results, performance or achievements to be not as anticipated. or estimates. or intentional.
No assurance can be given that such information is accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in the forward-looking information may differ materially from the actual results or events.
Consequently, readers should not place undue reliance on forward-looking information. The forward-looking information in this press release is made as of the date of this release. The Company rejects any intention or obligation to update or revise such information, except as required by applicable law, and the Company assumes no responsibility for disclosure related to any other company mentioned in this document.
On behalf of the Board of Directors of Ikänik Farms Inc.
SOURCE Ikanik Farms Inc.