Not for distribution to U.S. Newswire Services or for dissemination in the United States.
Indiva Limited Announces Results of Annual General Meeting
July 26, 2018 – Ottawa, Ontario: INDIVA Limited (“INDIVA” or the “Company“) (TSXV:NDVA) is pleased to announce the results of its annual general and special meeting of shareholders held on July 24, 2018 (the “Meeting“).
The Company put forward the following resolutions to be voted on by shareholders at the Meeting, all of which were approved: (i) to re-appoint MNP LLP, Chartered Accountants, as auditor of the Company for the 2018 fiscal year; (ii) fixing the number of directors of the Company at six and permitting the board of directors, by resolution, to determine the number of directors; (iii) the election of directors; (iv) the ratification and approval of the Company’s Stock Option Plan; (v) the ratification and approval of the Company’s amended and restated By-Law No. 1, including the advance notice provisions included therein; and (vi) the approval of the voluntary delisting of the Corporation’s listed securities from the TSX Venture Exchange and the listing of such securities on the Canadian Securities Exchange (the “CSE“).
“We are very pleased with the results of our AGM which include shareholder approval for the voluntary listing of INDIVA on the CSE. We believe a CSE listing permits greater flexibility to pursue investment and participation in US markets. This listing also helps differentiate INDIVA from many other Canadian LPs, as it opens the door to further US partnerships, while exploiting the arbitrage between valuations north and south of the border,” commented Niel Marotta, President and CEO of INDIVA.
Each of the directors elected at the Meeting, being Niel Marotta, Koby Smutylo, John Marotta, Hugh Hamish Sutherland, Andre Lafleche, and James Yersh will hold office until the next annual meeting of the Company or until their earlier resignation or removal.
Further information with respect to the matters considered at the Meeting can be found in the management information circular dated June 15, 2018, which is available under INDIVA’s issuer profile at www.sedar.com.
A total of 20,606,722 common shares of the 80,991,228 common shares of the Company that were outstanding as at the record date were voted at the Meeting, representing 25.44% of such shares.
INDIVA is a Canadian supplier of high quality, medical grade cannabis. INDIVA’s strain selection, cultivation and client care processes combine the know-how and experience of an internationally recognized and award-winning grow-team with GMP-compliant quality assurance standard operating procedures.
INDIVA aims to become a global marijuana brand recognized for high quality cannabis products and excellent client care. As marijuana laws liberalize in Canada, INDIVA will expand its product offering to include safe edibles and other client-friendly cannabis products. In addition, as marijuana laws liberalize internationally, INDIVA will use its Canadian operations as a platform to open new markets for its cannabis products.
Niel Marotta, President and CEO
Steve Low, Investor Relations
DISCLAIMER & READER ADVISORY
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the Transaction and neither of the foregoing entities accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties’ current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the implementation of matters approved at the Meeting, including the listing of Indiva’s securities on the CSE. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. The material factors and assumptions include the parties being able to obtain the necessary corporate, regulatory, exchange and other third parties approvals to implement the Meeting matters, including the listing of the Company’s securities on the CSE. The forward looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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