Emblem Corp. By-Law Amendment and Investor Relations Services Update
PARIS, ONTARIO – (August 25, 2017) – Emblem Corp. (TSXV: EMC) (“Emblem” or the “Company”) amended and restated By-Law No. 1 of the Company to provide that the quorum requirement for a meeting of shareholders of the Company shall be two (2) persons, present in person, each being a shareholder or representative duly authorized in accordance with the Canada Business Corporations Act entitled to vote at the meeting or a duly appointed proxy for a shareholder so entitled and holding or representing, in the aggregate, not less than five percent (5%) of the votes entitled to be cast at the meeting of shareholders.
In addition to the foregoing, the Company has entered into an amended investor relations and capital markets advisory services agreement (the “Agreement”) with Spinnaker Capital Markets Inc. (“Spinnaker”) pursuant to which Spinnaker will provide capital markets and investor relations advisory services to Emblem until April 30, 2020.
Pursuant to the Agreement and as disclosed in the Company’s press release dated April 17, 2017, the Company has issued an aggregate of 200,000 incentive stock options with an exercise price of $2.60 per share and will pay Spinnaker a monthly fee of $10,000 plus applicable taxes. The Agreement is subject to the acceptance of the TSX Venture Exchange.
Emblem is licensed under the Access to Cannabis for Medical Purposes Regulations (the “ACMPR”) to cultivate and sell medical marihuana. Emblem carries out its principal activities producing marihuana from its facilities in Paris, Ontario pursuant to the provisions of the ACMPR and the Controlled Drugs and Substances Act (Canada) and its regulations.
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Neither 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.
This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “may”, “will”, “project”, “should” or similar words, including negatives thereof, suggesting future outcomes.
Management of the Company believes the expectations reflected in such forward-looking statements are reasonable as of the date hereof but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. Any forward-looking statements are made as of the date hereof and, except as required by law, the Company assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise.