TORONTO–(BUSINESS WIRE)–SOL Global Investments Corp. (“SOL Global”) (CSE: SOL) (OTCPK: SOLCF) (Frankfurt: 9SB) and Goldstream Minerals Inc. (“Goldstream”) (NEX: GSX.H) announce that Goldstream and SOL Global’s investee company, CannCure Investments Inc. (“CannCure”), have amended their previously announced definitive business combination agreement providing for the reverse takeover of Goldstream by CannCure (the “Proposed Transaction”). Under the terms of the amendment, Goldstream will consolidate all of its issued and outstanding common shares on a revised ratio of 16.07201 old common shares for 1 new common share (16.07201:1) (the “Consolidation”). The closing of the Proposed Transaction is conditional on, among other things, the completion of the Consolidation and the receipt of approval from the Florida Department of Health, Office of Medical Marijuana Use.
Update to the Proposed CFO and Board of the Resulting Issuer
CannCure and Goldstream are also pleased to announce that Mr. Harry Rosenfeld will become the Chief Financial Officer of the issuer resulting from the Proposed Transaction (the “Resulting Issuer”). Mr. Rosenfeld is a Certified Public Accountant with over 35 years of experience including serving as chief financial officer of public companies in the United States across numerous industries including transportation, manufacturing, restaurants and distribution. Mr. Rosenfeld began his career in 1984 in public accounting with KPMG in the United States. He then held numerous accounting positions with both public and private companies including Ryder Systems, Inc. and Alamo Rental Car. Mr. Rosenfeld is an accomplished financial strategist with analytical and transactional skills and experience communicating with stock exchanges, regulators, bankers and other key stakeholders. Mr. Rosenfeld has extensive experience in investment banking and has facilitated the sales of numerous companies.
Further to the press release of February 20, 2020, Mr. Michael Bondurant, the proposed President and Chief Strategy Officer of the Resulting Issuer, will now stand for election to become a director of the Resulting Issuer together with Messrs. Brady Cobb, Chad Moss and Adam Wilks at Goldstream’s upcoming annual and special meeting of shareholders on April 9, 2020. If successfully elected, then upon the closing of the Proposed Transaction, Messrs. Cobb, Moss, Wilks and Bondurant will comprise the board of directors of the Resulting Issuer and the incumbent directors of Goldstream will resign.
Additonally, Mr. Cody Stross, the founder and CEO of ECD Holdings Inc. (d/b/a as “Northern Emeralds”), will no longer stand for election to become a director of the Resulting Issuer upon completion of the Proposed Transaction and instead will be appointed to the board only if the proposed acquisition of Northern Emeralds is successfully completed.
About SOL Global Investments Corp.
SOL Global is an international investment company with a focus on investing in cannabis and cannabis related companies in legal U.S. states, the hemp and CBD marketplaces and the emerging European cannabis and hemp marketplaces with an objective of providing shareholders with a long term return through capital appreciation, dividends and interest from its investments. If SOL Global believes there is a strategic reason to do so, it may also invest in companies not in the cannabis sector.
For additional information on SOL Global and CannCure:
Telephone: (212) 729-9208
Goldstream Minerals Inc. is a mineral exploration company with no current activities or operations and is currently listed on the NEX Board of the TSX Venture Exchange.
For additional information on Goldstream:
For more information, please contact Goldstream at email@example.com.
On Behalf of the Board of Directors of Goldstream Minerals Inc.
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 release.
Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
This press release contains “forward-looking information” within the meaning of applicable securities laws including statements regarding the terms and conditions of the Proposed Transaction and the Consolidation, the appointment of Harry Rosenfeld as the CFO of the Resulting Issuer and the changes to the board of the Resulting Issuer. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative if these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may”, or “will” happen, or by discussions of strategy. Forward-looking information is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management’s perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While each of SOL Global and Goldstream consider these assumptions to be reasonable based on information currently available to management of each such company, there is no assurance that such expectations will prove to be correct. By its nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond the respective companies’ control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, but are not limited to: information concerning the Proposed Transaction; expectations on whether the Proposed Transaction will be consummated, including whether conditions to the consummation of the Proposed Transaction will be satisfied including obtaining receipt of all required regulatory and shareholder approvals; the timing for completing the Proposed Transaction; the business plans and strategies of Goldstream, SOL Global, CannCure and the Resulting Issuer, the ability of CannCure to comply with all applicable governmental regulations in a highly regulated business; the inherent risks in investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under US federal laws; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; inconsistent public opinion and perception regarding the medical-use and adult-use marijuana industry; and regulatory or political change. Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and neither Goldstream nor SOL Global undertakes any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.