Organic Flower Sets Record Date of Share Distribution
17 Décembre 2019 - 1:32AM
Organic Flower Investments Group Inc. (CSE: SOW)(FWB:
2K6)(OTC: QILFF) ("Organic Flower" or
“OFIG” or the
“Company”) today
announced that it has set a record date (the “
Record
Date”) for the distribution (the
"
Distribution") of common shares in the capital of
AgraFlora Organics International Inc. (“
AgraFlora Common
Shares”). As previously announced, the Company sold its
cannabis industry focused downstream and product formulation
portfolio to AgraFlora earlier this year. As consideration for the
sale of the portfolio, the Company was issued an aggregate of
348,109,251 AgraFlora Common Shares.
The Company is pleased to confirm the Record
Date for the Distribution has been set for Monday, January 6, 2020.
The distribution date is set for Wednesday, January 8, 2020,
whereby an aggregate of 116,036,417 AgraFlora Common Shares will be
distributed to the shareholders of the Company on the Record Date,
on a pro-rata basis. The Company has designed the Distribution as a
shares distribution in the form of a return of capital, and as a
result it is not required to issue any tax slips related to the
Distribution. Organic Flower Shareholders with questions
regarding the tax treatment of the Distribution should consult with
their own tax advisors.
Due to the current general market conditions and
in the best interest of all stakeholders at this time, the
remaining amount of AgraFlora Common Shares will be held by the
Company until the Company is in a position to determine the most
favourable option, in the best interest of Organic Flower
shareholders, for dealing with the remaining AgraFlora Common
Shares.
Only holders of Organic Flower common shares of
record at the close of business on the Record Date will be entitled
to the Distribution on January 8, 2020, on a pro-rata basis in
accordance with their respective holdings. Holders of Organic
Flower common shares before or after January 6, 2020, but not on
such Record Date, will not be entitled to any part of the
Distribution.
ABOUT ORGANIC FLOWER INVESTMENTS
Organic Flower is an investment company, that
specializes in investing into private and public companies engaged
in a variety of industries, with a focus in the bio-medical,
pharmaceutical, and naturopathic sectors, which may include medical
or recreational cannabis. The Company’s investment activities will
be primarily focused on enterprises in the legal cannabis space
located in Canada. In particular, the investment mandate is focused
on high return investment opportunities, the ability to achieve a
reasonable rate of capital appreciation and to seek liquidity in
our investments
ON BEHALF OF THE ORGANIC FLOWER INVESTMENTS GROUP INC.
BOARD OF DIRECTORS
“Joel Dumaresq”Joel Dumaresq CEO, Director +1 (604)
687-2038info@sowcannabis.ca
Learn more about Organic Flower by visiting our website
at: https://sowcannabis.ca/
THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
Notice Regarding Forward Looking
Information:
This news release contains certain
"forward-looking information" within the meaning of applicable
Canadian securities law. Forward-looking information is frequently
characterized by words such as "plan", "continue", "expect",
"project", "intend", "believe", "anticipate", "estimate", "may",
"will", "potential", "proposed" and other similar words, or
information that certain events or conditions "may" or "will"
occur. This information is only a prediction. Various assumptions
were used in drawing the conclusions or making the projections
contained in the forward-looking information throughout this news
release. Forward-looking information includes, but is not limited
to: political changes in Canada and internationally, future
legislative and regulatory developments involving cannabis in
Canada and internationally, AgraFlora’s ability to secure
distribution channels in international jurisdictions, competition
and other risks affecting AgraFlora in particular and the cannabis
industry generally. Without limiting the generality of the
foregoing, the forward-looking statements herein include, among
other things, AgraFlora’s ability to develop the Delta Greenhouse
Complex and the successful integration of Organic Flower’s unique
domestic downstream asset portfolio under the AgraFlora banner.The
forward-looking information contained in this release is expressly
qualified by the foregoing cautionary statements and is made as of
the date of this release. Except as may be required by applicable
securities laws, the Company does not undertake any obligation to
publicly update or revise any forward- looking information to
reflect events or circumstances after the date of this release or
to reflect the occurrence of unanticipated events, whether as a
result of new information, future events or results, or
otherwise.
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