SOL Global Investments Corp. (“SOL Global” or the “Company“) (CSE:SOL) (OTCPK:SOLCF) (Frankfurt:9SB), is pleased to announce that a special meeting of common shareholders will be held on October 15, 2019 (the “Meeting“) whereby shareholders will be asked to consider and approve, among other things, the proposed change of business of the Company from an international cannabis investment company to that of a U.S. multi-state cannabis operator (“MSO“) under the Life Sciences category of the Canadian Securities Exchange (“CSE“), as had been previously announced by the Company on August 8, 2019. In connection with the Company’s proposed change of business, shareholders will also be asked to consider and approve a change of name of the Company to “Bluma Wellness Inc.”.
Comprehensive details of the proposed business of the new MSO will be disclosed in the Company’s management information circular and related meeting materials, which will be filed and delivered to shareholders in advance of the Meeting in accordance with applicable securities laws. The record date of the Meeting will be September 6, 2019. The completion of the change of business and corporate name change are subject to certain conditions, including requisite shareholder approval and the approval of the CSE. There are no assurances that the change of business and the change of name will be completed as proposed or at all.
Trading in the common shares of the Company is expected to resume at the opening of market on August 13, 2019.
About SOL Global Investments Corp.
SOL Global is an international investment company with a focus on, but not limited to, cannabis and cannabis related companies in legal U.S. states, the hemp and CBD marketplaces and the emerging European cannabis and hemp marketplaces. Its strategic investments and partnerships across cultivation, distribution and retail complement the company’s R&D program with the University of Miami. It is this comprehensive approach that is positioning SOL Global as a future frontrunner in the United States’ medical cannabis industry.
Any securities that may be referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (“U.S. Securities Act“), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent such registration or an applicable exemption from the registration requirements of the U.S. Securities Act. This news release does not constitute an offer for sale of securities, nor a solicitation for offers to buy any securities.
This press release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy. The forward-looking information contained in this press release include, but are not limited to, statements with respect to: the proposed change of business and corporate name change of the Company, the proposed date and record date of the Meeting, Company’s business and strategic plans and the expected timing on the resumption of trading of the Company’s common shares.
By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release, including the failure to complete any of the previously-announced acquisitions of the proposed assets of the MSO on the terms and timelines anticipated by the Company or at all, the ability to successfully integrate the proposed businesses and assets of the MSO, the receipt of all necessary corporate, governmental and regulatory approvals and general market, economic and business conditions.
Other risk factors include, but are not limited to: the Company’s ability to comply with all applicable governmental regulations in a highly regulated business; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under US federal laws; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; inconsistent public opinion and perception regarding the medical-use and adult-use marijuana industry; and regulatory or political change. Additional risk factors can also be found in the Company’s current MD&A, which has been filed on SEDAR and can be accessed at www.sedar.com.
Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.