New Age Brands Announces Share Consolidation
26 March 2019 - 11:30PM
New Age Brands Inc. (CSE:NF) (OTC:NWGFF) (FSE:ONF)
(“New Age Brands” or the “Company”) announces that, pursuant to a
director’s resolutions, the Company will be consolidating all of
its issued and outstanding share capital on the basis of one (1)
post‐ consolidation share for each forty-five (45)
pre‐consolidation common shares (the “Consolidation”). No
fractional shares will be issued under the Consolidation and any
fraction will be rounded to the nearest whole number.
As a result, the outstanding common shares of
the Company will be reduced to approximately 7,731,238. The
exercise or conversion price and the number of common shares
issuable under any of the Company’s outstanding convertible
securities will be proportionately adjusted upon consolidation.
In connection with the Consolidation, the name
of the Company will not change and the Company’s trading symbol
will remain as “NF”.
The Company’s common shares are expected to
begin trading on a consolidated basis and with a new CUSIP number
on or about April 1, 2019.
NEW CUSIP: 64158L208 NEW
ISIN: CA64158L2084
ABOUT New Age Brands
New Age Brands is an innovative Cannabidiol
(“CBD”) lifestyle Company. Through the Company’s wholly owned
subsidiaries We are Kured and Drink Fresh Water, the Company’s main
business activities encompass the development, marketing and
distribution of CBD products (including vaporizer pens and
beverages) throughout the United States and internationally. In
addition, New Age Brands has extensive retail and cultivation land
investments in Oregon.
For further information about New Age Brands,
please consult the Company’s profile on SEDAR at www.sedar.com or
visit the Company’s website at www.NABrandsInc.com. For further
information about We Are Kured, please visit their website at
www.wearekured.com.
On Behalf of the Board of
Directors
For Further Information Contact
Joshua Bartch
Corporate
CommunicationsChief Executive Officer
info@nabrandsinc.cominfo@nabrandsinc.com
250-488-6728
We Are Kured Contact:
Ben MartchFounder & CEOwww.wearekured.com
The Canadian Securities Exchange has
neither approved nor disapproved the contents of this news
release and accepts no responsibility for the adequacy or
accuracy hereof.
This news release contains forward-looking
statements, which relate to future events or future performance and
reflect management’s current expectations and assumptions. Such
forward-looking statements reflect management’s current beliefs and
are based on assumptions made by and information currently
available to the Company. Readers are cautioned that these forward
looking statements are neither promises nor guarantees, and are
subject to risks and uncertainties that may cause future results to
differ materially from those expected including, but not limited to
completion of planned improvements at both the Canadian and US
sites on schedule and on budget, the availability of financing
needed to complete the Company’s planned improvements on
commercially reasonable terms, planned occupancy by the
tenant-growers, commencement of operations, differences in yield on
expected harvests, delays in obtaining statutory approval for
marijuana production plans, issues that may arise throughout the
grow period, outdoor crops affected by weather, the ability to
mitigate the risk of loss through appropriate insurance policies,
and the risks presented by federal statutes that may contradict
local and state legislation respecting legalized marijuana. These
forward-looking statements are made as of the date hereof and the
Company does not assume any obligation to update or revise them to
reflect new events or circumstances save as required under
applicable securities legislation. This news release does not
constitute an offer to sell securities and the Company is not
soliciting an offer to buy securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of such
jurisdiction.
This news release does not constitute an offer
of securities for sale in the United States. These securities have
not and will not be registered under United States Securities Act
of 1933, as amended, or any state securities laws and may not be
offered or sold in the United States or to a U.S. Person unless so
registered, or an exemption from registration is relied upon.
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