Matica continues to work with Yunify Natural Technologies, a Quebec based health and personal care research and innovation company to develop proprietary products for Matica and RoyalMax, including topicals and ionic mists.
The Corporation assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Corporation.
This news release contains statements about the Company’s information that may be made available on the S&P Capital IQ Corporation Records Listing Program and the business of Matica that are forward-looking in nature and as a result, are subject to certain risks and uncertainties.
Each Warrant is subject to accelerated expiry provisions whereby, if the closing price of the Company’s common shares exceeds $0.75 per share for a period of ten consecutive trading days, at the Company’s election, provided that applicable resale restrictions have lapsed, the 24 month period within which the Warrants are exercisable will be reduced and the holders of the Warrants will be entitled to exercise their Warrants for a period of 30 days commencing on the day the Company provides notice of same.
No finder’s fees were paid in respect of the Private Placement.
In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding and are implicit in, among other things: receipt of regulatory approvals, the Company’s ability to complete the Transaction and Private Placement, the state of the capital markets, the impact of the COVID-19 pandemic, the ability of the Resulting Issuer to successfully manage the risks inherent in pursuing business opportunities in the cannabis industry, and the ability of the Resulting Issuer to obtain qualified staff, equipment and services in a timely and cost efficient manner to develop its business.
Investors are cautioned that, except as disclosed in the Information Circular and Listing Statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon.
. The KrysalisTM Pod will be designed to be powered by a custom tech stack incorporating advanced display technology and state-of-the-art bio-monitoring with the goal of improving psychedelic therapy by optimizing set, setting and the overall experience for clinical and other uses.
Philip Young, CEO and director of Lobe, commented: “Lobe is extremely pleased to partner with industry veterans such as Brett Leonard and Dr.
Skip Rizzo’s work in clinical virtual reality has been used over the last 20 years for treating veterans with PTSD, assessing children with ADHD, and for reducing social anxiety in persons on the autism spectrum.
Hollywood director Brett Leonard is a thought-leader and sought-after speaker in the VR industry, and is credited with helping to popularize VR in the early 1990s through sci-fi classics like Lawnmower Man and Virtuosity.
Under the terms of the agreement pursuant to which Krysalis VX will be governed, Lobe and VPI will have equal rights of representation on the board of Krysalis VX, with VPI and its principals contributing its experienced management expertise, while Lobe will contribute US$250,000 in cash as well as issue 5,000,000 common shares of Lobe, at a deemed price per share of CAD$0.20.
In connection with the agreement, each of the VPI Principals will be granted 150,000 non-transferable common share purchase warrants of Lobe, exercisable for a period of two years from the date of issuance at a price of $0.20 per share.
Lobe is a life sciences company focused on psychedelic medicines.
Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including that the expected benefits to be derived from the joint venture with VPI may not materialize as expected, including that Krysalis VX may be unsuccessful in designing and commercializing the KrysalisTM Pod and/or the risk that the Company may not realize a return on its investment in Krysalis VX; risks relating to changes to the regulatory environment; that the Company’s drug research and development activities may be unsuccessful; that drugs, therapeutic systems and medical devices produced by, or on behalf of, the Company, may not work in the manner intended or at all, and may subject the Company to product liability or other liability claims; that the Company may not be able to attain the Company’s corporate goals and objectives; and other risk factors detailed in the Company’s continuous disclosure filings from time to time, as available under the Company’s profile at www.sedar.com.
The business of Stralak after the completion of the Proposed Transaction , will be the business of Hempsana, which involves manufacturing cannabis derivatives and producing cannabis extracts for use in finished products, including vapeables, topical creams and infused consumables.
In addition, 1,655,345 stock options; 4,249,218 warrants will be exercisable into Resulting Issuer Shares in accordance with and as permitted under their terms. As a result of the completion of the Proposed Transaction, if the Minimum Financing is not completed, the current holders of Hempsana Shares will hold approximately 93.6% of the Resulting Issuer Shares and the current holders of Stralak Shares will hold approximately 6.4% of the Resulting Issuer Shares, on a non-diluted basis and not factoring in any securities issued under the Hempsana Private Placement.
David has over 20 years experience in accounting and finance, and has been a principal factor in helping a number of companies grow and to maximize stakeholder value.
Sohil Mana currently holds the position of President of Eurofins Experchem Canada, a Health Canada and FDA approved Biopharmaceuticals Services and Laboratories & Testing company specialized in testing Pharmaceuticals, Cosmetic, Medical Hemp and Food services globally.
is a Canadian cannabis company incorporated under the Federal laws of Canada and is a specialized manufacturer of cannabis derivatives, focused on Extraction & Purification and End-Product Manufacturing.
Investors are cautioned that, except as disclosed in the listing statement of the Resulting Issuer to be prepared in connection with the Proposed Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon.
The forward-looking statements and information are based on certain key expectations and assumptions made by management, including expectations and assumptions concerning Stralak, Hempsana, the Resulting Issuer, and the Proposed Transaction, the timely receipt of all required securityholder, CSE and regulatory approvals and the satisfaction of other closing conditions in accordance with the terms of a Combination Agreement.
Hempsana’s broad portfolio also includes “As-A-Service” offerings, wholesale distribution and white labeling.