Investment Brings SOL Global's Stake in ECH to 19.4 Percent
TORONTO, Feb. 27, 2019 /CNW/ - SOL Global Investments Corp. ("SOL Global" or the "Company") (CSE: SOL) (OTCQB: SOLCF) (Frankfurt: 9SB) is pleased to announce the close of its latest investment in European Cannabis Holdings ("ECH"), a group of companies helping to shape the future of cannabis in Europe.
European Cannabis Holdings is comprised of industry-leading assets including Prohibition Partners, the world's leading provider of market research and strategic consultancy in the cannabis industry; Cannabis Europa, the premiere medical cannabis conference for business leaders and medical professionals; Nooro/Budca, two leading CBD brands; The Academy of Medical Cannabis, a first-of-its-kind cannabis education platform for medical professionals; The Medical Cannabis Clinics, a chain of private UK clinics specializing in innovative cannabis-based therapies and prescription cannabinoids; and Astral Health, a platform that facilitates medical cannabis imports into Europe.
The newly-acquired ordinary shares bring SOL Global's total position in ECH to approximately 19.4% of the total issued and outstanding ordinary shares of ECH.
"The investment by SOL into ECH is a great opportunity for two of the leaders in the global cannabis industry to form a strategic link," said Brady Cobb, CEO of SOL Global. "SOL remains a key global player in the new and exciting cannabis field and ECH is the clear leader in the important European market. The future is bright for both companies.
"ECH made history earlier this month by facilitating the first-ever bulk importation of medical cannabis to the United Kingdom," added Cobb. "It's these types of pioneering moves that will propel individual cannabis markets into a world marketplace. At SOL Global, we invest in pioneering leadership teams, and ECH has within its ranks a number of the most highly acclaimed individuals in the global cannabis movement."
With its investment in ECH, SOL Global's leadership in the European cannabis market is strengthened. ECH joins SOL Global's portfolio of market-leading European investments, including Dublin-based GreenLight Pharmaceuticals Limited, a vertically-integrated medical cannabis company with a clinical research and development operation, a seed genetics program, cultivation operations, and CBD brand and distribution operations. Additionally, ECH will provide strategic assistance and distribution capabilities across Europe to SOL Global's newly formed hemp- and CBD-focused subsidiary, Heavenly Rx Ltd. As SOL Global continues to execute on its investment strategy in the international cannabis market, the Company hopes to create a network of strategic alliances across its assets in order to meet the needs of a full supply chain.
About SOL Global Investments Corp.
SOL Global is an international investment company with a focus on, but not limited to, cannabis and cannabis related companies in legal U.S. states, the hemp and CBD marketplaces and the emerging European cannabis and hemp marketplaces. Its strategic investments and partnerships across cultivation, distribution and retail complement the company's R&D program with the University of Miami. It is this comprehensive approach that is positioning SOL Global as a future frontrunner in the United States' medical cannabis industry.
About European Cannabis Holdings
ECH is an unrivalled group of companies at the forefront of the European industry. It provides venture capital, exceptional talent and operational excellence to a portfolio that includes market intelligence firm Prohibition Partners, Europe's leading medical cannabis conference Cannabis Europa, CBD brand house Amkeu, online learning platform The Academy of Medical Cannabis and UK private clinic chain The Medical Cannabis Clinics. These holdings provide ECH with a fundamental anchor in the cannabis industry while helping to shape its future.
This press release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as "may", "will", "expect", "likely", "should", "would", "plan", "anticipate", "intend", "potential", "proposed", "estimate", "believe" or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen, or by discussions of strategy. The forward-looking information includes statements relating to the Company's strategic plans and the international cannabis market.
Forward-looking information is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management's perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct.
By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, but are not limited to: the Company's ability to comply with all applicable governmental regulations in a highly regulated business; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under US federal laws; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; inconsistent public opinion and perception regarding the medical-use and adult-use marijuana industry; and regulatory or political change. Additional risk factors can also be found in the Company's current MD&A and annual information form, both of which have been filed on SEDAR and can be accessed at www.sedar.com.
Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
The securities referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended ("U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent such registration or an applicable exemption from the registration requirements of the U.S. Securities Act. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities.
SOURCE SOL Global Investments Corp.
For further information: SOL Global Investments Corp., Brady Cobb, CEO, Phone: (212) 729-9208, Email: [email protected]; For media inquiries, please contact: Daniel Nussbaum, AMWPR, P: 212.542.3146, E: [email protected]