TORONTO, ONTARIO--(Marketwired - Feb. 28, 2017) - Aumento Capital V Corporation (TSX VENTURE:AWN.P) ("Aumento" or the "Corporation") is pleased to announce that the TSX Venture Exchange (the "TSXV") has accepted the Corporation's application to extend the period by which it has to complete a Qualifying Transaction. As a result, the Corporation has until August 22, 2017 to complete a Qualifying Transaction or its listing will be transferred to the NEX and 50% of the seed shares of the Corporation held in escrow in accordance with TSXV Policy 2.4, will be cancelled.
Regarding Aumento's trading status, reinstatement to trading can occur either when Aumento completes its Qualifying Transaction in accordance with TSXV Policy 2.4 or upon application for reinstatement satisfactory to the TSXV at the time of transfer to the NEX.
The Corporation continues to work towards completing the previously announced Qualifying Transaction with WeedMD RX Inc. (the "Transaction").
About WeedMD RX Inc.
WeedMD is a licensed producer of medical cannabis pursuant to the Access to Cannabis for Medical Purposes Regulations (ACMPR). WeedMD operates a 25,000 square foot, scalable production facility in Aylmer, Ontario with four acres of property for future expansion. The Company is focused on providing consistent, quality medicine to the long-term care and assisted living markets in Canada through its comprehensive platform developed exclusively for that industry. WeedMD is dedicated to educating healthcare practitioners and furthering public understanding of the role medical cannabis can play as a viable alternative to prescription medication in relieving a variety of chronic medical conditions and illnesses.
Aumento will issue additional press releases related to the final legal structure of the Transaction, officers and directors of the resulting issuer, sponsorship and other material information as it becomes available. For further information regarding the Transaction, please contact:
Completion of the Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and, if applicable, pursuant to the requirements of the TSXV, majority of the minority shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: 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; future developments; the conduct of the Shareholders Meeting and the business and operations of the resulting issuer after the completion of the proposed Transaction. 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; delay or failure to receive shareholder or regulatory approvals; and the results of continued development, marketing and sales. 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 forward-looking statements. Aumento 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.