TORONTO, Nov. 5, 2018 /CNW/ - Beleave Inc. (CSE: BE) (OTCQX: BLEVF) ("Beleave" or the "Company") is pleased to announce a seven-for-one share split of the Company's issued and outstanding common shares (the "Share Split"). Each shareholder of record of the Company as of the close of business on the Record Date will receive six additional shares for each share held on such date.
"A sizeable portion of our investor base is holding their position for the long-term. This stock split will increase liquidity, allowing more investors to buy and sell our shares as we continue our ambitious expansion into 2019," said Andy Wnek, Beleave CEO. "Our stock is already affordable, and liquidity will free up additional shares to trade, which in turn helps Beleave realize its true value."
The Company currently has 59,887,913 issued and outstanding common shares. Upon completion of the split, there will be approximately 419,215,391 shares issued and outstanding. The record date for the stock split is Wednesday, November 7, 2018 and the shares will begin trading on a split basis on Tuesday, November 6, 2018.
ABOUT BELEAVE INC.
Beleave is a vertically-integrated Canadian cannabis company headquartered in Oakville, Ontario, that operates streamlined facilities throughout Canada to cultivate high-quality cannabis flower, oil, and extracts with funded capacity in excess of 150,000 kg per year.
Fully-licensed to cultivate and sell medical and recreational cannabis, Beleave is leading the way through research partnerships with universities to bridge the gap between science and tradition and to develop pharma-grade extracts and derivatives. Beleave is currently developing new product lines for October 2019 as the recreational market is expected to allow for food and beverage-based cannabis products.
Beleave is growing its storefront and online sales presence rapidly through its wholly-owned subsidiaries, Beleave Kannabis Corp. and Seven Oaks, which are licensed for medicinal and recreational sales respectively. The company's first retail location is opening this fall in Lloydminster, Saskatchewan. Beleave has also developed a network of medical cannabis clinics in Ontario and Quebec under the Medi-Green banner.
Through its majority ownership of Procannmed S.A.S., Beleave has access to 27 hectares of outdoor grow space and is fully licensed to cultivate, produce, extract and distribute medical cannabis in Colombia to capitalize on exports and the expanding Latin American market.
This news release contains "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). The use of any of the words "plan", "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and other similar words, or statements that certain events or conditions "may" or "will" occur are intended to identify forward-looking information. These statements are only predictions. Although the Company believes that the expectations and assumptions on which the forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Since forward-looking information addresses future events and conditions, by its very nature it involves inherent risks and uncertainties. This information speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents, which can be found under the Company's profile on www.sedar.com.
SOURCE Beleave Inc.
For further information: Investor Relations Contact: Kevin Keagan, Phone : 1 (647) 449 - 7352, Email : [email protected]; Richard Oyelowo, Phone : 1 (833) 375 - 9995, Email : [email protected]; Media Relations Contact: Grant McLeod, SVP, Regulatory Affairs and General Counsel, Phone : (416) 910 - 3401, Email : [email protected]