SOURCE: KoreConX

KoreConX

SOURCE: Ascenta Finance Corp.

Bay Street Cannabis

March 02, 2016 15:00 ET

Bay Street Cannabis Launching as Canada's First Equity Crowdfunding Portal Dedicated to the Cannabis Sector (BayStreetCannabis.ca)

VANCOUVER, BC--(Marketwired - March 02, 2016) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH UNITED STATES WIRE SERVICES

Two of our country's newest and most exciting sectors, cannabis and crowdfunding, are meeting at the centre of commerce in Canada with the launch of "Bay Street Cannabis."

Ascenta Finance Corp. (Ascenta), an exempt market dealer registered in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario, is pleased to announce the creation of "Bay Street Cannabis," Canada's first equity crowdfunding portal dedicated to the cannabis sector.

The Bay Street Cannabis portal provides legal cannabis and cannabis-related businesses, both public and private, with a new avenue for growth and expansion capital and provides Canadians with new access to these investment opportunities.

Recent regulatory developments in both the marijuana industry and new prospectus exemptions in the securities industry have now made it possible for Canadians to go online and purchase securities of cannabis companies. Bay Street Cannabis will be the country's first portal to capitalize on these legal changes. All issuers listed on the portal will be subject to careful scrutiny and due diligence and all securities offerings made through the portal will be made in compliance with applicable securities laws.

Marshall Farris, President and Dealing Representative of Ascenta‎ said: "We are very pleased to be working with a team of industry experts in Canada's emerging crowdfunding space to launch Ascenta's first equity crowdfunding portal. We look forward to increasing access to the investment process for companies and investors, both big and small, by launching the Bay Street portal. Equity crowdfunding is a transformative new phenomenon that is beginning to significantly impact investment markets across North America. Bringing investors and cannabis investment opportunities together in one place is a real game changer."

The portal is supported by the leading equity crowdfunding technology provided by KoreConX Corp.

"We are very proud that the street name that symbolizes finance in Canada will now also symbolize a new avenue for Canadian cannabis companies and investors to transact business," said Farris. "The Bay Street Cannabis Portal is now LIVE at BayStreetCannabis.ca."

Oscar Jofre, President and Chief Executive Officer of KoreConX said "We are excited to support the Canadian cannabis industry and investment community through regulated equity crowdfunding and we welcome the Bay Street Cannabis portal to our eco-system. Bay Street Cannabis is another great example of a sector that crowdfunding is disrupting to give everyday investors the opportunity to invest and companies the ability to access capital."

About Ascenta Finance Corp.

Ascenta Finance Corp., founded in 2006 and located in Vancouver, British Columbia, is registered as an Exempt Market Dealer with the British Columbia, Alberta, Saskatchewan, Manitoba and Ontario Securities Commissions. Ascenta Finance connects qualified investors with quality companies that provide compelling investment opportunities with significant upside potential. More information is available at www.AscentaFinance.com.

About KoreConX Corp.

KoreConX is an all-in-one solution that helps companies navigate the process of raising equity capital, and simplifies shareholder communications to reduce risk. The KoreConX ecosystem empowers stakeholders (regulated crowdfunding portals, shareholders, board directors, CEO, CFO, corporate secretary, lawyers, auditors, investor relations, members and 3rd party providers) to manage corporate information from a Single Point of Entry within a secure, hosted application that results in efficient and transparent corporate governance. More information is available at www.KoreConX.com.

Cautionary Statements Regarding Forward-Looking Information

Certain statements within this press release or on the Bay Street Cannabis portal may constitute "forward-looking statements", within the meaning of applicable securities laws, including without limitation, statements regarding future estimates, business plans and / or objectives, sales programs, forecasts and projections, assumptions, expectations, and/or beliefs of future performance, are "forward-looking statements". Such "forward-looking statements" involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements. Forward-looking statements include, but are not limited to, statements with respect to commercial operations, including production and / or sales of marijuana, quantities of future marijuana production, anticipated revenues in connection with such sales, the overall projected size of the market, completion and / or expansion of production facilities, and other information that is based on forecasts of future results, estimates of production not yet determinable, and other key management assumptions. Actual results may differ materially from those expressed or implied by such forward-looking statements and involve risk and uncertainties relating to the parties' historical experience with regulatory changes, timeliness of government approvals for the granting of permits and licenses, changes in marijuana prices, actual operating performance of facilities, and other uninsured risks. Ascenta assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.

Contact Information

  • Darcy Brooks
    Director Communications
    KoreConX Corp.
    Email contact

    416-399-5631