Weekend Unlimited Provides Investment Update
Wednesday, April 24, 2019 3:05 AM
NEW YORK, NY / ACCESSWIRE / April 24, 2019 / Weekend Unlimited Inc. ('Weekend' or the 'Company') (CSE: POT - FSE: 0OS1 - OTCQB: WKULF) is providing background information on recent events.
All cannabis licenses issued in Jamaica are required to be held in part by a Jamaican resident. The Company's local partner, Yohan Chin, one of the 3 individuals from Jamaica who started the project and then sold it to the Company, has been reported kidnapped in Trinidad and held for ransom by people allegedly connected to illegal drug trade. While Weekend remains primarily concerned with the safe return of Mr. Chin, the totality of circumstances are in no way congruent with the overall values of the Company.
Based on the circumstances, recognizing that some facts remain unsubstantiated, Weekend has determined that this investment is not one that either fits the Company's risk profile or the image it wants to portray.
Consequently, the Company is taking swift action to cease any further development funding to this business asset and arranging for the return from the vendors of approximately 30 million shares currently held in escrow. We firmly believe this decision best serves the interests of our shareholders and furthermore upholds the values of this Company that are evident in the exciting opportunities of our remaining investments/subsidiaries.
Weekend is entering into an exciting time with go to market strategies ready for launch, which should lead to significant revenue generation. As we move into this phase of our business, it is of absolute importance that we demonstrate integral values that present and future shareholders appreciate.
For further information, please contact:
Mr. Chris Backus, Director
Telephone: 1 (236) 317-2812 - Toll free 1(888) 556-9656
E-mail: [email protected]
About Weekend Unlimited Inc.
Weekend Unlimited is a lifestyle-based recreational cannabis company. The company is developing premium products designed to deliver life's highs, anytime, anywhere. With U.S. operations based in, or being negotiated in Arizona, California, Oklahoma, and Washington, international presence in Canada and Jamaica, and a unique entertainment and education division (Weekend Live!), Weekend Unlimited is well-positioned to launch and scale the brands that will define recreational cannabis. Learn more at www.weekendunlimited.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'predicts', 'intends', 'targets', 'aims', 'anticipates' or 'believes' or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions 'may', 'could', 'should', 'would', 'might' or 'will' be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
SOURCE: Weekend Unlimited Inc.