/NOT FOR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, May 23, 2017 /CNW/ - Leo Resources Inc. (CSE:
LEO; FSE: L001) ("Leo" or the "Company")
announces upon closing of the previously announced transaction with
Green Life Clinics Inc. on May 9,
2017 and May, 16, 2017, the proposed board will consist of
David Schmidt, Stanley Lu, Dr. Stephanie Liu, Sarah
Donald, Suzette Ramcharan,
and Anthony Jackson who will replace
Sam Chaudhry, Konstantin Lichtenwald and Ken Tollstam. Anthony
Jackson will be appointed as the Chairman of the Board and
Terry Roycroft will replace Mr.
Chaudhry as CEO.
Mr. Schmidt has over 15 years of experience working as a
consultant to private and public companies, advising on financings,
corporate and financial disclosure, as well as corporate
development. He holds a Bachelor of Applied Science (Mining) from
the University of British Columbia. He
is currently CFO of White Gold Corp. (WGO.V)
Mr. Lu is currently a Managing Partner at Maxit Capital LP, a
leading independent investment and merchant bank. Prior to Maxit,
Mr. Lu worked at Dundee Capital Markets, where he played a key role
in the IPO of Bedrocan Cannabis Corp. (now Canopy Growth
Corporation). Mr. Lu is a CPA, CA, a CFA charterholder and holds
MAcc and BAFM degrees from the University of
Waterloo.
Mr. Liu is a family physician with a practice in Edmonton, Alberta and also works with acutely
ill patients at the University of
Alberta Hospital. In addition, she is a clinical lecturer at
the University of Alberta. She
completed her medical school and residency in Family Medicine at
the University of Alberta. Dr. Liu
studied Health Sciences at the University of
Calgary before completing a Masters of Sciences in Clinical
Nutrition at Columbia University in
New York City.
Ms. Donald is strategic member of the MCRCI team and has helped
create the structure and patient processing of MCRCI, who has
processed over 3,500 patients. With over 8 years' experience in the
marijuana industry, she is a leading expert in patient care and
creating industry standards for patients, physicians, and licensed
producers in the national market.
Ms. Ramcharan is currently the VP, Corporate Development with
Nighthawk Gold Corp. She is a seasoned investor relations
professional with over sixteen years of experience in the mining
industry having worked with Kirkland Lake Gold Inc., St Andrew
Goldfields ltd. (acquired by Kirkland Lake Gold Inc.), Gold Eagle
Mines ltd. (acquired by Goldcorp Inc.), and European Goldfields
Ltd. (acquired by Eldorado Gold Inc.). Ms. Ramcharan holds a
Certified Professional Investor Relations (CPIR) through
CIRI/Ivey.
Mr. Jackson is a Principal of BridgeMark Financial Corp.,
financial advisory firm. Mr. Jackson has had extensive experience
as a Director and Officer of numerous publicly traded corporations
across multiple industries. He is currently involved in two mergers
involving LPs, Delta 9 Bio-Tech and Hadley Mining.
Mr. Roycroft founded Medical Cannabis Research Centre Inc.
(MCRCI), a leading cannabis clinic organization, in 2011. Under Mr.
Roycroft's leadership, MCRCI has been voted the #1 clinic in 2015
and 2016 by Lift, the leading Canadian cannabis online marketplace.
He is an internationally recognized speaker in medical
marijuana and a top industry consultant. Mr. Roycroft engages with
HR professionals in Canada
regarding medicinal cannabis use in the workplace.
LEO RESOURCES INC.
"Sam Chaudhry"
_______________________
Sam Chaudhry, CEO
Not for distribution to United
States wire services or dissemination in the United States. This news release does not
constitute an offer to sell or a solicitation of an offer to buy
any of the securities in the United
States. The securities have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") or any state securities laws
and may not be offered or sold within the
United States or to U.S. Persons unless registered under the
U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.
Certain statements included in this press release constitute
forward-looking information or statements (collectively,
"forward-looking statements"), including those identified by the
expressions "anticipate", "believe", "plan", "estimate", "expect",
"intend", "may", "should" and similar expressions to the extent
they relate to the Company or its management. The forward-looking
statements are not historical facts but reflect current
expectations regarding future results or events. This press release
contains forward looking statements. These forward-looking
statements are based on current expectations and various estimates,
factors and assumptions and involve known and unknown risks,
uncertainties and other factors.
Statements about the closing of the Transaction, expected
terms of the Transaction, the number of securities of the Company
that may be issued in connection with the Transaction, the
ownership of the Company, the terms of and the completion of the
Concurrent Financing, and the parties' ability to satisfy any and
all other closing conditions, and receive necessary regulatory and
CSE approvals in connection therewith, are all forward-looking
information, as are statements regarding the business of PAP and
GLC, their expected success, revenues, scaliability and growth
rates.
Forward-looking statements are not guarantees of future
performance and involve risks, uncertainties and assumptions which
are difficult to predict. Factors that could cause the actual
results to differ materially from those in forward-looking
statements include failure to obtain regulatory approval, the
continued availability of capital and financing, and general
economic, market or business conditions. Forward-looking statements
contained in this press release are expressly qualified by this
cautionary statement. These statements should not be read as
guarantees of future performance or results. Such statements
involve known and unknown risks, uncertainties and other factors
that may cause actual results, performance or achievements to be
materially different from those implied by such statements.
Although such statements are based on management's reasonable
assumptions, there can be no assurance that the Transaction will
occur or that, if the Transaction does occur, it will be completed
on the terms described above. The Company assumes no responsibility
to update or revise forward-looking information to reflect new
events or circumstances unless required by law. Readers should not
place undue reliance on the Company's forward-looking
statements.
Neither the Canadian Securities Exchange (the "CSE") nor its
Regulation Services Provider (as that term is defined in the
policies of the CSE) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Leo Resources Inc