NEX: KMC.H
ANGUILLA, British West Indies,
Sept. 27, 2019 /CNW/ - KMT-Hansa
Corp. ("KMT" or the "Company"), is pleased to announce that it
has closed a bridge financing (the "Bridge Financing"), as
previously announced on press releases dated August 27, 2019 and September 9, 2019, of an aggregate of 7,515,152
common shares of the Company (the "Shares"), at a price of
$0.0825 per Share for gross proceeds
of $620,000. The Shares were issued
to HDD Investment Holdings Corp. ("HDD"), an insider of the Company
through virtue of its ownership of 14,103,827, or 51% of the total
issued and outstanding common shares of KMT.
The Shares are subject to a statutory four month and one day
hold period, expiring January 26,
2020. In addition, the TSX Venture Exchange may also require
that the Shares be subject to escrow provisions as a result of the
Company's proposed acquisition of 50% of the issued and outstanding
securities in the capital of QXCENTURY Ventures Ltd. ("QXCV"), an
arm's length party and its acquisition of HDD's Lumuwan Forest Farm
property (collectively, the "Transactions").
The proceeds of the Bridge Financing will be used to fund the
Company's expenses associated with the closing of the Transactions.
Shareholders are urged to refer to the Company's press release
dated August 27, 2019 for the
complete details of the Transactions.
Pure Global Cannabis Inc.
KMT is also pleased to announce that it has entered into a Joint
Development Agreement with Pure Global Cannabis Inc. ("Pure
Global"), an arm's length party to the Company, on September 19, 2019 (the "Agreement"). Pursuant to
the terms of the Agreement, Pure Global, through its wholly owned
subsidiary, PureSinse Inc., will act as KMT's management and
development partner with respect to the processing, extraction,
cultivation and manufacturing of hemp and hemp related products on
the Company's holdings in the province of Yunnan (the "Yunnan Project"). The Agreement
is subject to exchange and other requisite approvals. In its role
as a management and development partner, Pure Global will be
responsible for the following:
(i) providing the know-how
and expertise to design and manage the development and deployment
of the Yunnan Project;
(ii) furnishing technical
assistance pertaining to the production of industrial hemp and
related products, including design and executing the industrial
hemp production and extraction processes;
(iii) managing the
day-to-day operations and ongoing cultivation, extraction,
production and manufacturing activities in connection with the
Yunnan Project; and
(iv) securing and
maintaining a license to import the products into Canada.
In connection with the Agreement, Pure Global is entitled to
receive 30% of the net profits derived from activities of the
Yunnan Project. Pure Global has been granted, at a reasonable
market price, the right of first refusal to (i) sell and distribute
products manufactured in connection with the Yunnan Project (ii)
buy all products manufactured in connection with the Yunnan Project
for re-packaging, development, manufacturing, sales and
distribution in Canada and (iii)
buy raw materials produced in connection with the Yunnan
Project.
About Pure Global Cannabis
Pure Global is an innovation-based cannabis company led by
experienced pharma, biotechnology, horticultural, and consumer
packaged goods experts. The company's wholly owned subsidiary,
PureSinse Inc., is a licensed producer under the Cannabis
Act. Pure Global's Brampton
campus houses facilities for vertically farmed cultivation,
R&D, extraction, manufacturing, and distribution. Pure Global
will produce branded and white-labeled cannabis products for the
medical, pharmaceutical, wellness, health & beauty, natural
health, food & beverage, craft, and recreational legal markets
with uniquely formulated and purified concentrates and dried
flower. Pure Global is using the Canadian market as a springboard
to develop and manufacture GMP-compliant premium quality cannabis
products for international sale and distribution with a goal to
become one of the most trusted premium international cannabis
brands.
More information about KMT-Hansa Corp. can be found at
www.kmthansacorp.com and the Company can be contacted by email at
chan@kmthansacorp.com.
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.
Cautionary Statements
This news release contains "forward-looking information"
within the meaning of applicable securities laws relating to the
proposal to complete the transactions and associated transactions,
including statements regarding the terms and conditions of the
transactions. Although the Company believes in light of the
experience of its officers and directors, current conditions and
expected future developments and other factors that have been
considered appropriate that the expectations reflected in this
forward-looking information are reasonable, undue reliance should
not be placed on them because the Company can give no assurance
that they will prove to be correct. Readers are cautioned to not
place undue reliance on forward-looking information. Actual results
and developments may differ materially from those contemplated by
these statements depending on, among other things, the risks that
the parties will not proceed with the transactions and associated
transactions, that the ultimate terms of the transactions and
associated transactions will differ from those that currently are
contemplated, and that the transactions and associated transactions
will not be successfully completed for any reason (including the
failure to obtain the required approvals or clearances from
regulatory authorities). The statements in this press release are
made as of the date of this release. The Company undertakes no
obligation to comment on analyses, expectations or statements made
by third-parties in respect of the Company, its securities, or its
financial or operating results (as applicable).
SOURCE KMT-Hansa Corp.
