MONTREAL, June 20, 2016 /CNW Telbec/ - Knowlton Capital Inc. ("Knowlton") (TSX-V: KWC‑H) previously announced that it has entered into an Arrangement Agreement with Leni Gas Cuba Limited ("LGC") for a reverse take-over of Knowlton by LGC. Knowlton has mailed a management information circular dated June 9, 2016 to its shareholders for an annual and special meeting to be held on July 6, 2016 to consider the reverse take-over with LGC.
Knowlton wishes to advise its shareholders that LGC issued a press release today announcing that LGC has acquired a 10% interest in The Cuba Mountain Coffee Company Ltd ("CMC") for an investment of £27,300 (approximately CAD$50,000). LGC's press release is available on its web site at www.lg-cuba.com under "Investors/Media Releases".
LGC's press release discloses that CMC is an English company founded in 2013 to promote, on a worldwide basis, single-origin gourmet coffee from Cuba's Guantanamo region, both as green beans and also via CMC's own bespoke coffee brand, "Alma de Cuba".
LGC's press release also discloses that CMC signed a letter of intent in April 2015 with Grupo Agro Forrestal and Empresa Procesadora de Café Asdrúbal López Vazquez ("AL") for green bean coffee supplies and that CMC is working towards formalizing a definitive ten-year (extendable) International Economic Association Contract with AL intended to provide, over a five-year period, capital and equipment to improve the processing and quality of green beans from the Guantanamo region of Cuba. In return, CMC would obtain the rights to an increasing proportion of this production for global marketing. The press release describes AL as a part of the Cuban Ministry of Agriculture/Grupo Agro Forrestal, which controls the majority of green coffee processing in Cuba.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The press release referred to above was issued by LGC. Knowlton has not made any independent inquiries as to its accuracy or completeness and assumes no responsibility for the contents thereof.
Completion of the reverse take-over between Knowlton and LGC is subject to a number of conditions, including TSX Venture Exchange acceptance and disinterested shareholder approval. The reverse take-over cannot close until the required shareholder approval is obtained. There can be no assurance that the reverse take-over will be completed as proposed or at all or that The Cuba Mountain Coffee Company Ltd. will enter into the definitive International Economic Association Contract referred to above. Investors are cautioned that, except as disclosed in Knowlton's management information circular dated June 9, 2016, any information released or received with respect to the reverse take-over may not be accurate or complete and should not be relied upon. Trading in the securities of Knowlton should be considered highly speculative.
SOURCE Knowlton Capital
For further information: Rafi Hazan, Chief Financial Officer, Knowlton Capital Inc., Tel: (514) 839-7234