/NOT FOR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, June 5, 2017 /CNW/ - Leo Resources Inc. (CSE: LEO; FSE: L001) ("LEO" or the "Company") in conjunction with its previously announced May 9, 2017 news release with respect to the proposed acquisition of Green Life Clinics ("GLC"), LEO has taken the initiative to look into further acquisitions of medical clinics that will issue ACMPR licenses to individuals. The Company has started exploring opportunities that could potentially increase shareholder value and highlight potential clinic acquisitions which will align with the proposed acquisition of GLC.
LEO will focus its business model around taking interested applicants of the ACMPR system and streamlining them to self-owned clinics where they are diagnosed and matched with a suitable licensed producers for a royalty or perpetuity payment. Due to a suspected high growth rate, preliminary steps are being made so the business will be able to handle the volume of interest.
In order to deal with suspected growth rates, and inflow of lead generation of ACMPR applicants; LEO's proposed strategy includes searching for additional medical marijuana clinic acquisitions, concurrently to the closing of the proposed acquisition of GLC.
LEO RESOURCES INC.
Sam Chaudhry, CEO
Not for distribution to United States wire services or dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Certain statements included in this press release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.
Statements about the closing of the Transaction, expected terms of the Transaction, the number of securities of the Company that may be issued in connection with the Transaction, the ownership of the Company, the terms of and the completion of the Concurrent Financing, and the parties' ability to satisfy any and all other closing conditions, and receive necessary regulatory and CSE approvals in connection therewith, are all forward-looking information, as are statements regarding the business of PAP and GLC, their expected success, revenues, scalability and growth rates.
Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include failure to obtain regulatory approval, the continued availability of capital and financing, and general economic, market or business conditions. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the Transaction will occur or that, if the Transaction does occur, it will be completed on the terms described above. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company's forward-looking statements.
Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Leo Resources Inc
For further information: 800 - 1199 West Hastings Street, Vancouver, British Columbia, V6E 3T5, Tel.: 604.376.1429 / Fax: 1.888.241.5996