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.
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
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.
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.
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