Mr. Chuck Rifici reports
CANNABIS WHEATON INCOME CORP. ANNOUNCES PRIOR ENGAGEMENT OF INVESTOR RELATIONS FIRMS
Cannabis Wheaton Income Corp. previously retained each of IRTH Communications LLC, Skanderbeg Capital Advisors Inc. and Winning Media LLC to provide investor relations services to the company.
IRTH was retained by the company in October, 2017, to provide investor relations and communication services to the company. IRTH, based in Santa Monica, Calif., is a leading provider of investor relations, financial communications and strategic consulting services. IRTH provides a full suite of investor relations services utilizing modern technologies, coupled with long-lasting relationships and relationship-building processes, to help develop and maintain interest from an issuer's shareholder base.
IRTH was retained by the company for an initial term of 12 months expiring in October, 2018, with an automatic 12-month renewal unless the company gives notice of its intention to terminate the agreement on the expiration of the initial term. IRTH is paid a monthly fee of $7,500 (U.S.) plus an annual set-up fee of $100,000 (U.S.). An additional $100,000 (U.S.) set-up fee will be payable if the company renews the agreement.
The company and IRTH act at arm's length. To the knowledge of the company, IRTH has no present interest, directly or indirectly, in the company or its securities.
As previously announced by the company, Skanderbeg was retained by the company in May, 2017. Skanderbeg is a boutique merchant bank and capital adviser firm with expertise in capital raising, marketing, market awareness and investor relations. Pursuant to the terms of the engagement, Skanderbeg assists the company with communications, public relations strategies and building relationships within the financial community.
Skanderbeg was retained by the company for a term of 12 months, expiring in May, 2018, in consideration for the payment of a cash fee of $100,000. In addition, the company has issued Skanderbeg an aggregate of 200,000 options to purchase an equal number of common shares of the company at exercise prices ranging from $1 to $2.23 per share. The options are exercisable for a period of 10 years from the date of grant, and, in accordance with the policies of the TSX Venture Exchange, 25 per cent of the options will vest each quarter from the date of grant.
The company and Skanderbeg act at arm's length. To the knowledge of the company, other than the options noted above, Skanderbeg currently owns or controls approximately 33,150 common shares of the company and has no other present interest, directly or indirectly, in the company or its securities.
Winning Media was retained by the company in September, 2017, to provide digital marketing consulting services to the company. Winning Media, based in Houston, Tex., provides specialized marketing and branding design services.
Winning Media was retained by the company on a month-to-month basis on a non-fixed-fee basis. The company's engagement stipulated an initial marketing project at a cost of $10,000. All additional projects will be determined on an individual basis, and invoices are to be rendered to the company on a project-by-project basis.
The company and Winning Media act at arm's length. To the knowledge of the company, Winning Media has no present interest, directly or indirectly, in the company or its securities.
Aside from the option issuances noted above, all fees for investor relations services provided by these firms have been, and will continue to be, paid from the company's cash on hand. Each of these agreements remains subject to the approval of the TSX Venture Exchange.
About Cannabis Wheaton Income Corp.
Cannabis Wheaton Income is a collective of entrepreneurs with a passion for the cannabis industry past, present and future. The company's mandate is to facilitate growth for the company's partners by providing them with financial support and sharing the company's collective industry experience. The company's partners all have different visions, voices and brand values, and all share a common goal: to build a world-class industry based on ethics, diversity, quality and innovation.
We seek Safe Harbor.
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