TORONTO, ONTARIO--(Marketwired - April 19, 2017) - Lakeside Minerals Inc. (the "Company" or "Lakeside") (NEX:LAK.H) wishes to announce that it has submitted an application to the TSX Venture Exchange (the "Exchange") to voluntarily de-list its shares from the Exchange. In this regard, the Company has obtained written consents from the holders of 13,947,233 common shares of the Company, representing approximately 51.02% of the issued and outstanding shares, excluding shares held by insiders. The Company has determined to apply for de-listing from the Exchange as it proceeds with its new business strategy of changing its business to the cannabis industry.
About Lakeside Minerals Inc.
Lakeside is currently a NEX listed issuer and was formerly listed as a Tier 2 Mining Issuer pursuant to the policies of the TSXV. Management and board have considered potential strategies to maximize shareholder value in both the cannabis and mineral exploration sectors, including strategic alternatives relating to the Company's Launay project and different facets of the United States cannabis industry with a specific focus on plant propagation and growing as retail segments of the value chain. With this new announcement, the Company intends to transition to a marijuana issuer, subject to necessary regulatory and shareholder approvals, with a focus on building grows that rely heavily on technology processes and data collection and analysis.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include the ability of the Company to de-list its common shares from the TSXV and otherwise to successfully operate its business in the cannabis industry. There is no certainty that any of these events will occur. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.
Company's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulation S under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.
Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by applicable securities laws.