VANCOUVER, British Columbia, March 26, 2019 (GLOBE NEWSWIRE)
New Age Brands Inc. (CSE:NF) (OTC:NWGFF) (FSE:ONF) (“New Age Brands” or the “Company”) announces that, pursuant to a director’s resolutions, the Company will be consolidating all of its issued and outstanding share capital on the basis of one (1) post‐ consolidation share for each forty-five (45) pre‐consolidation common shares (the “Consolidation”).
No fractional shares will be issued under the Consolidation and any fraction will be rounded to the nearest whole number. As a result, the outstanding common shares of the Company will be reduced to approximately 7,731,238.
The exercise or conversion price and the number of common shares issuable under any of the Company’s outstanding convertible securities will be proportionately adjusted upon consolidation. In connection with the Consolidation, the name of the Company will not change and the Company’s trading symbol will remain as “NF”.The Company’s common shares are expected to begin trading on a consolidated basis and with a new CUSIP number on or about April 1, 2019.
NEW CUSIP: 64158L208
NEW ISIN: CA64158L2084
ABOUT New Age Brands
New Age Brands is an innovative Cannabidiol (“CBD”) lifestyle Company. Through the Company’s wholly owned subsidiaries We are Kured and Drink Fresh Water, the Company’s main business activities encompass the development, marketing and distribution of CBD products (including vaporizer pens and beverages) throughout the United States and internationally. In addition, New Age Brands has extensive retail and cultivation land investments in Oregon.
For further information about We Are Kured, please visit their website at www.wearekured.com.
On Behalf of the Board of Directors
For Further Information Contact
Joshua Bartch Corporate Communications
Chief Executive Officer
We Are Kured Contact:
Founder & CEO
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to completion of planned improvements at both the Canadian and US sites on schedule and on budget, the availability of financing needed to complete the Company’s planned improvements on commercially reasonable terms, planned occupancy by the tenant-growers, commencement of operations, differences in yield on expected harvests, delays in obtaining statutory approval for marijuana production plans, issues that may arise throughout the grow period, outdoor crops affected by weather, the ability to mitigate the risk of loss through appropriate insurance policies, and the risks presented by federal statutes that may contradict local and state legislation respecting legalized marijuana.
These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.This news release does not constitute an offer of securities for sale in the United States. These securities have not and will not be registered under United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to a U.S. Person unless so registered, or an exemption from registration is relied upon.