Mountain High Completes Corporate Restructuring and Share Cancellation
18 Mars 2014 - 12:45PM
Marketwired
Mountain High Completes Corporate Restructuring and Share
Cancellation
DENVER, CO--(Marketwired - Mar 18, 2014) - Mountain High
Acquisitions Corp. (OTCQB: MYHI) ("Mountain High" or the
"Company"), a strategic real estate holding company whose primary
focus is the acquisition and development of commercial properties
in the marijuana sector, is pleased to announce that it has
completed the irrevocable cancellation of 113,500,000 restricted
common shares of the Company.
This share cancellation is part of the previously executed Share
Exchange Agreement and Addendum (the "Agreement") between the
Company and Canna-Life Corporation ("Canna-Life"), the current
holder of options to acquire three properties zoned by the State of
Colorado and the respective municipal authorities for the
cultivation of marijuana. As a result of the Agreement,
Canna-Life has become a wholly-owned subsidiary of Mountain High
(see Form-8K filed March 10, 2014).
Following the aforementioned cancellation of the 113,500,000
restricted common shares and the issuance of 8,096,000 restricted
common shares as part of the acquisition of Canna-Life, there are a
total of 23,884,000 common shares of the Company outstanding.
"These acquisitions position the Company for rapid growth as we
build out each property," stated Mr. Alan Smith, President of
Mountain High Acquisitions Corp. "In addition, the Company intends
to develop other complementary revenue streams from the
advantageous position as landlord and primary services provider to
our properties."
About Mountain High Acquisitions Corp. (MYHI)
Mountain High Acquisitions Corp. is a strategic real estate
holding company whose primary focus is the acquisition and
development of commercial properties to be leased and utilized by
the marijuana industry. Mountain High's current portfolio
includes three Colorado properties zoned for commercial marijuana
cultivation: Isabelle, Madison, and Pueblo.
The Company does not and will not grow, harvest, distribute,
or sell cannabis or any substances that violate United States law
or the Controlled Substances Act.
Disclaimer/Safe Harbor: This Mountain High Acquisitions Corp.
news release contains forward-looking statements within the meaning
of the Securities Litigation Reform Act. The statements
reflect the Company's current views with respect to future events
that involve risks and uncertainties. Among others, these
risks include failure to meet schedule or performance requirements
of the Company's contracts, the Company's liquidity position, the
Company's ability to obtain new contracts, the emergence of
competitors with greater financial resources and the impact of
competitive pricing. In the light of these uncertainties, the
forward-looking events referred to in this release might not occur
as planned or at all. The Company does not and will not grow,
harvest, distribute, or sell cannabis or any substances that
violate United States law or the Controlled Substances Act, nor
does it intend to do so in the future.
Investor/Media Contact: Mountain High Acquisitions Corp.
Investor Relations (844) 686-0420
(Toll-free) E-mail: Email Contact Website:
www.mountainhighac.com
Mountain High Acquisitions (CE) (USOTC:MYHI)
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