updated: Sep 19, 2019 16:59 EDT
September 19, 2019 (Newswire.com) –
Wikileaf Technologies Inc. (“Wikileaf” or the “Company”) (formerly Kona Capital Ltd.) is pleased to announce that it has filed its final long-form non-offering prospectus (the “Prospectus”) with the securities regulatory authorities in each of the provinces of Ontario, British Columbia and Alberta. A copy of the Prospectus is available on SEDAR at www.sedar.com.
Wikileaf is also pleased to announce that it has obtained conditional approval on September 9, 2019 from the Canadian Securities Exchange (the “CSE”) for the listing (the “Listing”) of its common shares under the ticker symbol “WIKI”. Assuming all conditions of Listing are satisfied, the common shares of Wikileaf are expected to commence for trading on the CSE on Sept. 25, 2019 or such other later date as may be determined by the Company.
The Company also announces that 13,696,000 subscription receipts of the Company (the “Subscription Receipts”), issued pursuant to its previously announced non-brokered private placement have converted automatically and without qualification by the Prospectus, on a one-for-one basis, into 13,696,000 common shares of the Company, following the satisfaction of the escrow release conditions. Following the satisfaction of the escrow release conditions, $5,709,950 escrowed funds are due to be released from escrow to the Company.
Wikileaf is a price comparison website for recreational and medicinal cannabis consumers. Wikileaf provides consumers with instant price comparison among dispensaries in their immediate vicinity. It is majority-owned and operated by Nesta Holding Co. Ltd. (“Nesta”), a private equity firm focused on the global cannabis industry. Nesta was founded in 2015 by Chuck Rifici, co-founder of Canopy Growth Corporation and Chairman of Auxly Cannabis Group. For more information please visit www.wikileaf.com.
This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. Forward-looking statements and information include, but are not limited to, statements with respect to receipt of final approval from the Canadian Securities Exchange and the expected timing of commencement of trading. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the risk that the listing will not be approved by the Canadian Securities Exchange; the inherent risks involved in the general securities markets; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, currency fluctuations; regulatory restrictions, liability, competition, loss of key employees and other related risks and uncertainties. The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
The CSE has not in any way passed upon the merits of the listing of the common shares of Wikileaf and has neither approved nor disapproved the contents of this news release. Listing of the common shares of Wikileaf is subject to satisfaction of the listing requirements of the CSE, including customary deliverables in satisfaction of the conditional approval.
For more information about Wikileaf, please visit www.wikileaf.com, or follow us on Twitter @Wiki_Leaf, Instagram @wiki_leaf, Facebook @Wikileaf and YouTube Wikileaf.
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Source: Wikileaf Technologies Inc.