Mr. Marc Branson reports
HIGHMARK MARKETING INC. CLOSES A PLAN OF ARRANGEMENT WITH MJ BIOSCIENCE CORP. AND HIGHMARK TECHNOLOGIES CORP.
On Jan. 28, 2015, Highmark Marketing Inc., MJ Bioscience Corp. and Highmark Technologies Corp. completed a statutory arrangement under a plan of arrangement among Highmark Marketing, MJ Bioscience and Highmark Technologies. As a result of completing the arrangement, MJ Bioscience and Highmark Technologies became reporting issuers in Alberta, British Columbia and Ontario, and the shareholders as of Jan. 12, 2015, of Highmark Marketing acquired 100-per-cent ownership of Highmark Technologies and MJ Bioscience.
On Oct. 16, 2014, Highmark Marketing, MJ Bioscience and Highmark Technologies entered into an arrangement agreement and plan of arrangement.
Completion of the arrangement as set forth in the arrangement agreement was approved at a meeting of the shareholders of Highmark Marketing on Jan. 15, 2015, and a final order was granted by the Supreme Court of British Columbia on Jan. 19, 2015, in accordance with Part 9 of the Business Corporations Act (British Columbia).
Pursuant to the arrangement, the following principal steps were completed on Jan. 28, 2015:
- Highmark Marketing transferred all the intellectual property relating to
cannabis research to MJ Bioscience, and MJ Bioscience issued Highmark
Marketing 13,965,857 common shares of its capital stock, which was
immediately distributed to the shareholders of Highmark Marketing as of
the record date of Jan. 12, 2015. The
shareholders of Highmark Marketing received one MJ Bioscience share for
every four Highmark Marketing shares held as of the record date.
- Highmark Marketing transferred all of the assets relating to its
MobiWeed software application to Highmark Technologies, and Highmark
Technologies issued Highmark Marketing 13,965,857 common shares of its
capital stock, which was immediately distributed to the shareholders of
the company as of the record date on the
basis of one Highmark Technologies share for every four company shares held
as of the record date.
- Highmark Marketing reduced its paid-up capital by an amount equal to the
value of the MJ Bioscience shares and the Highmark Technologies shares,
which were distributed to the Highmark Marketing shareholders.
Upon the arrangement becoming effective on Jan. 28, 2015, Highmark Technologies and MJ Bioscience became reporting issuers in the jurisdictions of Alberta, British Columbia and Ontario, and have each issued a total of 13,965,857 common shares. The Cusip for the common shares for Highmark Technologies is 431121102 and for MJ Bioscience is 553074105.
About MJ Bioscience
MJ Bioscience was incorporated on Oct. 15, 2014, and its fiscal year-end is Oct. 31. MJ Bioscience is engaged in the research and development of plant technology for the enhanced production of commercial medical marijuana. MJ Bioscience's principal goal is to target the evaluation and development of an efficient system for micropropagation methods that can be reproduced on a commercial scale.
About Highmark Technologies
Highmark Technologies was incorporated on Oct. 15, 2014, and its fiscal year-end is Oct. 31. Highmark Technologies is an information technology company primarily focused on the development of its MobiWeed business, a medical marijuana dispensary mapping website. Highmark Technologies seeks to develop MobiWeed to become an educational resource, where medical marijuana patients can ensure their prescriptions are appropriate for their conditions. This includes having the right potency and consistency to optimize treatments and limit health risks. Highmark Technologies is also focused on identifying and acquiring related information technology assets.
We seek Safe Harbor.
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