POCML 2 Inc. Files Filing Statement Regarding Qualifying Transaction with Bedrocan Canada
NOT FOR DISSEMINATION IN THE US OR THROUGH US NEWSWIRE SERVICES
TORONTO, Aug. 12, 2014 /CNW/ - POCML 2 Inc. (TSX-V: PCC) (the "Corporation" or "POCML") is pleased to announce that it has filed a filing statement regarding its proposed qualifying transaction (the "Qualifying Transaction") with Bedrocan Canada Inc. ("Bedrocan"), as previously announced in its press release dated May 15, 2014.
In connection with the Qualifying Transaction, POCML will acquire all of the issued and outstanding securities of Bedrocan in exchange for securities of POCML. For further information, please see the POCML filing statement (the "Filing Statement"), which is available on SEDAR at www.sedar.com. Closing of the Qualifying Transaction is expected to occur on or about August 20, 2014, or such other date as POCML and Bedrocan may determine.
The completion of the Qualifying Transaction is subject to a number of conditions, including but not limited to receipt of all required regulatory and third party consents, including final TSX Venture Exchange ("TSXV") acceptance, and satisfaction of other customary closing conditions.
Trading in the common shares of POCML will remain halted pending further filings with the TSXV. The common shares of POCML will resume trading under the symbol "BED" following publication of the Final Exchange Bulletin by the TSXV in respect of the closing of the Qualifying Transaction.
Completion of the Qualifying Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance. There can be no assurance that the Qualifying Transaction will be completed as proposed or at all.
All information in this press release concerning Bedrocan has been provided for inclusion herein by Bedrocan. Although POCML has no knowledge that would indicate that any information contained herein concerning Bedrocan is untrue or incomplete, POCML assumes no responsibility for the accuracy or completeness of any such information.
Investors are cautioned that, except as disclosed in the Filing Statement, any information released or received with respect to the Qualifying Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) 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 Qualifying Transaction. 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., David D'Onofrio, Chief Executive Officer, Chief Financial Officer, Secretary and Director, (416) 643-3880; Bedrocan Canada Inc., Marc Wayne, President, Chief Executive Officer and Director, (416) 943-5800