SURREY, BRITISH COLUMBIA--(Marketwired - Feb. 18, 2014) -
NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Arris Holdings Inc. ("Arris" or the "Company") (CSE:AAF) is pleased to provide the results of its Annual General Special Meeting of shareholders, held on February 7, 2014 in Surrey, BC (the "Meeting"). At the Meeting, shareholders voted in favour of motions to elect the Company's nominees for directors: Charles Larsen, Reid Jilek, Donald Steinberg, Mikhail Gurfinkel and Sandy Janda.
The shareholders also approved a special resolution to change the name of the Company to Global Hemp Group Inc. as the Company intends to pursue business opportunities in the industrial hemp sector. It is anticipated that this will result in a Fundamental Change under the exchange policies and that the Company must meet the requirements of the Canadian Securities Exchange ("Exchange") at that time. The shareholders also approved a five for one stock split (the "Stock Split") of the Company's issued and outstanding shares (the "Common Shares").
In accordance with Exchange policy, the common shares will begin trading on a post-Stock Split basis on February 21, 2014 with a record date of February 26th, 2014. The Company will continue trading on both the Frankfurt Stock Exchange and the Canadian Securities Exchange.
Arris believes that the Stock Split will enhance liquidity in the Company. Currently the Company has a total of 23,583,372 Common Shares issued and outstanding. Following the Stock Split the Company will have a total of 117,916,860 Common Shares issued and outstanding.
The Company has retracted its news release of February 14, 2014 while it makes further submissions to the exchange in regard to the change of name and business.
Immediately following the Meeting, the board re-appointed the following senior officers: Charles Larsen as CEO and Larry Tsang, CFO.
ON BEHALF OF THE BOARD
Charles Larsen, President & CEO
This press release, required by applicable Canadian laws, is not for distribution to U.S. news services or for dissemination in the United States, and does not constitute an offer of the securities described herein. These securities have not been registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to U.S. persons unless registered or unless an exemption from such registration is applicable.
Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, dependence upon regulatory approvals, the availability of future financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.