/NOT FOR DISSEMINATION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
OTTAWA, May 31, 2018 /CNW Telbec/ - PERCY STREET CAPITAL CORPORATION (TSXV: PSC.P) ("Percy Street" or the "Issuer") LIVEWELL FOODS CANADA Inc. ("LiveWell Foods" or the "Company") are pleased to announce that they have received conditional approval from the TSX Venture Exchange ("TSX-V") with respect to their Qualifying Transaction ("QT") previously announced January 16, 2018.
The two parties and a wholly owned subsidiary of Percy Street will enter an Amalgamation Agreement to consummate a three-corner amalgamation under the Canada Business Corporations Act. This will result in a reverse takeover of Percy Street by the Company to be renamed as LiveWell Canada Inc.
The Company is working towards satisfying the TSX-V conditions and expects to close the QT by June 12, 2018. Upon obtaining final approval, the Company will issue a further press release to inform shareholders when it anticipates that its common shares will commence trading on the TSX-V under the stock ticker of "LVWL".
Percy Street has filed its Filing Statement, dated May 29, 2018, on SEDAR. Shareholders are encouraged to review the Filing Statement under the Issuer's SEDAR profile at www.sedar.com.
Seann Poli, CEO of LiveWell said, "We are pleased to receive this important TSX-V conditional approval to consummate the Qualifying Transaction and to subsequently list on the TSX-V. This listing provides LiveWell increased visibility and access to public capital. We are extremely proud of our team in achieving this milestone. "
LiveWell Foods Canada Inc. (Ottawa, Canada) is an innovative Canadian company driven to be a global leader in a new approach to health and well-being, conducting advanced research on cannabidiol (CBD), and other cannabinoids in its world-class Research and Innovation Center in Litchfield, Quebec. The company's mission also includes developing and distributing prescription and consumer health products. With more than 1.1 MM square feet (102 M square meters) of greenhouses located in Ontario and Quebec, the company is supported by renowned academic and business partners.
For more information visit www.livewellfoods.ca
Disclaimer and Forward Looking Statements:
Neither the 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 of this release.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "plan", "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The forward-looking information contained in this press release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
SOURCE LiveWell Foods Canada Inc.
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