CALGARY, AB,
Aug. 31,
2023 /CNW/ - CanadaBis Capital Inc. (the "Company" or
"CanadaBis") (TSXV: CANB) a premium vertically integrated Canadian
cannabis company, is pleased to report that at our Annual &
Special Meeting (the "Meeting") held on August 30, 2023, all resolutions proposed to
shareholders were duly passed.
Shareholders approved the election of all individuals to the
Board of Directors of the Company, being Travis McIntyre, Nicole
Bacsalmasi, Alex Michaud,
Barbara O'Neill and Shane Chana. In addition, shareholders also
approved fixing the number of directors at five, the appointment of
BDO Canada LLP as Auditors, the ratification of the stock option
plan and a resolution giving management the discretion to change
the Company's name at some point in the future should such a change
offer strategic benefit for CanadaBis.
"I am very pleased to be joined by such a skilled and dedicated
group of individuals on our Board of Directors as we move into the
next stages of our corporate evolution, which may include a name
change in the future should management determine a rebrand offers
incremental strategic benefit," said Travis
McIntyre, President and Director of CanadaBis. "We are
grateful to have our Board's wealth of experience, which will
continue to be invaluable as we navigate our growth
trajectory."
CanadaBis also welcomes Garfield
Richards, CPA, CA, as our new Chief Financial Officer,
effective immediately, replacing Shane
Chana. Mr. Richards served as VP of Finance of Canadabis
since January 2022 and prior to this,
he served as the Senior Finance Controller for Stigma Grow, a
subsidiary of Canadabis. Mr. Richards has over fifteen years
experience in public accounting, nine of which were at KPMG, a
global public Audit, Tax and advisory firm, as a Senior Accountant
and Audit Supervisor. Some of his industry experience includes
being the lead auditor on J. Wray and Nephew Ltd and Appleton
Estate Jamaican Rum, one of the Caribbean's largest liquor brand. Mr. Richards
holds a bachelor's degree in Accounting and Management Studies from
the University of the West Indies,
Jamaica and obtained his Canadian
Chartered Accounting designation in 2016.
"The board and management team express our sincere thanks to Mr.
Chana for his service and significant contribution to CanadaBis as
CFO," said Travis McIntyre President
and CEO and "We welcome Mr. Richards to our team with his industry
experience in both the private and public company sector and a
strong background in finance, accounting, tax, and
governance. I am confident that he will be a positive
contributor to CanadaBis as we continue to work towards delivering
the next phase of growth," he added.
ABOUT CANADABIS CAPITAL
INC.
CanadaBis Capital Inc. (TSXV:CANB) is a vertically integrated
Canadian cannabis company focused on achieving large-scale growth,
from cultivation to retail, in the fast-emerging global cannabis
market. By targeting organic growth opportunities alongside the
right-fit partners, we remain focused on finding and capitalizing
on chances to grow, diversify and continue to lead our
industry.
Our integrated subsidiaries:
- Stigma Pharmaceuticals Inc. – 100% held
- 1998643 Alberta Ltd. (operating as "Stigma Grow") - 100%
held; www.stigmagrow.ca
- Full Spectrum Labs Ltd. (operating as "Stigma Roots") -
100% held
- 2103157 Alberta Ltd. (operating as "INDICAtive
Collection") -100% held; www.indicativecollection.ca
- Goldstream Cannabis Inc. - 95% held
ABOUT STIGMA GROW
Stigma Grow is a cutting-edge cannabis cultivation and
extraction company positioned advantageously to meet the unmet
market demands and stigmas within the legal cannabis industry head
on, with products designed to disturb the status quo and
dramatically shift the conversation surrounding Canada's legal cannabis industry.
CAUTIONARY STATEMENT REGARDING
FORWARD-LOOKING INFORMATION:
This news release includes certain "forward-looking
statements" under applicable Canadian securities legislation.
Forward-looking statements include, but are not limited to,
statements with respect to our business and operations; timing of
the Company's profitability; the demand and sales volumes of the
Company's products, and our general business plans. Forward-looking
statements are necessarily based upon a number of assumptions
including: the ability of the Company's products to compete with
the pricing and product availability on the black-market; the
market demand for the Company's products; and assumptions
concerning the Company's competitive advantages. These assumptions,
while considered reasonable, are subject to known and unknown
risks, uncertainties, and other factors which may cause actual
results and future events to differ materially from those expressed
or implied by such forward-looking statements. Such factors
include, but are not limited to: compliance with extensive
government regulation, the general business, economic, competitive,
political and social uncertainties; ability to sustain or create
demand for a product; requirement for further capital; delay or
failure to receive board, shareholder or regulatory approvals; the
results of operations and such other matters as set out in the
Company's continuous disclosure on SEDAR at www.sedar.com. There
can be no assurance that such statements will prove to be accurate,
as actual results and future events could differ materially from
those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking statements. Investors are cautioned that
forward-looking information is not based on historical facts but
instead reflects management's expectations, estimates or
projections concerning future results or events based on the
opinions, assumptions and estimates of management considered
reasonable at the date the statements are made. Although we believe
that the expectations reflected in such forward-looking information
are reasonable, such information involves risks and uncertainties,
and undue reliance should not be placed on such information, as
unknown or unpredictable factors could have a material adverse
effect on our future results, performance or achievements.
Should one or more of these risks or uncertainties
materialize, or should assumptions underlying the forward-looking
information prove incorrect, actual results may vary materially
from those described herein as intended, planned, anticipated,
believed, estimated or expected. Although the Company has attempted
to identify important risks, uncertainties and factors which could
cause actual results to differ materially, there may be others that
cause results not to be as anticipated, estimated or intended.
Company does not intend, and does not assume any obligation, to
update this forward-looking information except as otherwise
required by applicable law.
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 or
accuracy of this release.
SOURCE CanadaBis Capital Inc.