CSE.THC OTC.THCBF F.TFHC
Vancouver, BC – (February 13, 2018) THC BioMed Intl Ltd. (CSE: THC) (“THC”, “THC BioMed” or the “Company”) is pleased to announce that it has issued 14,074,486 shares to the original shareholders of its predecessor companies pursuant to the Earn Out Share provisions on the original share exchange agreement, as amended, (the “Agreement”) for the reverse takeover taking THC public in April of 2015.
Pursuant to the Agreement, THC issued 14,074,486 common shares (the “Earn Out Shares”) to the original shareholders of THC’s predecessor companies. Two of those shareholders are John Miller CEO and director of THC, and Hee Jung Chun, CFO and director of THC. Mr. Miller and Ms. Chun each directed the Company to issue 1,000,000 of their shares to two employees.The Earn Out Shares are subject to voluntary lock up agreements entered into between the Company and each of the shareholders. The Earn Out Shares will be released pursuant to the lock up agreement over a period of 36 months.
THC’s vision is to be on the leading edge of scientific research, development of products and services related to the medical cannabis industry while creating a standard of excellence. As the industry develops, it will become more important to focus on scientific research and development of products and services related to medical cannabis. Management believes THC BioMed is well-positioned to be in the forefront of this rapidly growing industry.
Please visit our website for a more detailed description of our business and services available. www.thcbiomed.com
President and CEO:
John Miller THC Biomed Intl Ltd. T: 1-844-THCMEDS E: email@example.com
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of THC. Forward-looking information is based on certain key expectations and assumptions made by the management of THC. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Although THC believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because THC can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release include that: (a) The Earn Out Shares will be restricted until released under the lock up agreement pursuant to the schedule provided. THC disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.