TORONTO, March 08, 2019 (GLOBE NEWSWIRE) -- Emblem Corp. (TSXV: EMC, OTCQX: EMMBF) (“Emblem” or the “Company”) is pleased to announce that it has received a final order from the Ontario Superior Court of Justice (Commercial List) approving the previously announced plan of arrangement (the “Arrangement”) with Aleafia Health Inc. (“Aleafia”) described in the joint press release issued by Emblem and Aleafia on December 19, 2018.
Closing of the Arrangement remains subject to customary closing conditions, including the final approval of the TSX Venture Exchange (“TSXV”). Assuming the satisfaction or waiver of these remaining closing conditions, it is anticipated that the Arrangement will be completed on or around March 14, 2019.
Emblem is a fully integrated cannabis company focused on driving shareholder value through product innovation, brand relevance, and access to patient and consumer channels. Through its wholly-owned subsidiary Emblem Cannabis Corporation, Emblem is licensed to cultivate, process, and sell cannabis and cannabis derivatives in Canada under the Cannabis Act. Emblem’s state-of-the-art indoor cannabis cultivation facility and Product Innovation Centre is located in Paris, Ontario. Emblem is also the parent company of GrowWise Health Limited, one of Canada’s leading cannabis education services. Emblem trades under the ticker symbol EMC on the TSXV.
For more information, please visit www.emblemcorp.com.
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Chief Financial Officer
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward looking statements. Forward-looking statements in this news release include, but are not limited to, satisfaction of conditions precedent to the closing of the Arrangement and the expected timing to close the Arrangement. Readers are cautioned that the foregoing list is not exhaustive, and that, in particular, there can be no assurance that Emblem will receive the requisite approvals for the Arrangement (if at all) including regulatory and stock exchange, or that the Arrangement will be completed even if all necessary approvals are obtained. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and thus are subject to change thereafter. Emblem disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
There can be no assurance that the Arrangement will occur, or that it will occur on the terms and conditions contemplated in this news release. The Arrangement could be modified, restructured or terminated. Actual results could differ materially from those currently anticipated due to a number of factors and risks.
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 press release.
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