POCML 2 Inc. Announces Conditional Approval of Qualifying Transaction with Bedrocan Canada; Results of Annual and Special Meeting of Shareholders
/NOT FOR DISSEMINATION IN THE US OR THROUGH US NEWSWIRE SERVICES/
TORONTO, July 31, 2014 /CNW/ - POCML 2 Inc. (TSX-V: PCC) (the "Corporation" or "POCML") is pleased to announce that it has received the conditional approval of the TSX Venture Exchange to complete its proposed qualifying transaction with Bedrocan Canada Inc. as previously announced in its press release dated May 15, 2014.
In connection with the completion of its qualifying transaction, POCML is also pleased to announce the results of the voting at its annual and special meeting of shareholders (the "Meeting") held on July 31, 2014 in Toronto, Ontario, Canada, at which (i) all director nominees listed in the Corporation's management information circular dated June 30, 3014 were elected as directors of the Corporation; (ii) Collins Barrow Toronto LLP, Chartered Accountants was reappointed as auditors of the Corporation; (iii) the consolidation of the issued and outstanding common shares of the Corporation on the basis of one "new" common share for every two "old" common shares then outstanding was approved; (iv) shareholders approved the change of name of the Corporation from "POCML 2 Inc." to "Bedrocan Cannabis Corp." or to such other name as may be determined and acceptable to the board of directors of the Corporation and the applicable regulatory authorities; and (v) the termination of the previous stock option plan of the Corporation and the adoption of a new stock option plan for the Corporation was approved. Further details of the matters considered and approved at the Meeting are contained in the management information circular of POCML dated June 30, 2014, which is available on SEDAR at www.sedar.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Corporation, including, but not limited to the receipt of applicable regulatory approvals and the completion of the consolidation and/or name change of the Corporation approved at the Meeting. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
SOURCE POCML 2 Inc.For further information:
POCML 2 Inc.
Chief Executive Officer, Chief Financial Officer, Secretary and Director