Professor David Hahn to Join Board of Directors of Rewardstream Following Acquisition of Interest In Israeli Cannabis Licensee
Monday, July 8, 2019 6:15 AM
VANCOUVER, BRITISH COLUMBIA / ACCESSWIRE / July 8, 2019 / RewardStream Solutions Inc. (TSXV: REW and Frankfurt: JL4L, WKN Number A2APX1) (the “Company”) is pleased to announce Professor David Hahn has agreed to join the board of directors of the Company, as the fourth board nominee, following completion of the Company’s previously announced acquisition (the “Transaction”) of EuroMed Therapeutics Ltd. (“EuroMed”).
Professor Hahn, in his capacity as the chief officer of the Guardian General and Official Receiver of Israel, was responsible for supervising over 400 employees, with an annual budget of 84 Million Israeli New Shekel. Professor Hahn was involved in the creation of the Official Receiver’s Corporate Department - for a professional treatment of complex corporate reorganization cases in Israel, including building and strengthening professional cooperation with peer governmental agencies and with international insolvency organizations. He is the author of a special report submitted to the Israel Securities Authority (ISA), on “International Insolvency Aspects of Foreign Corporations Offering Bonds in the Tel-Aviv Stock Exchange”, and was the Lead Candidate for Justice (outside the Judiciary system) of the Supreme Court of Israel. Professor Hahn was also the co-founder and first chair of the Public Philanthropic Forum for Professional Coordination and Cooperation, responsible for administering philanthropic estates in Israel.
Professor Hahn holds degrees from the NYU School of Law, J.S.D., and LL.M. (Corp. L.) and the Bar-Ilan U. School of Law, LL.B.
“Professor Hahn’s impressive background will provide a wealth of Israeli and international experience and skills,” said Patrick Morris, Chief Executive Officer of the Company. “We are looking forward to his valuable contributions on a variety of significant initiatives as EuroMed seeks to grow its business in Israel and export medical oils and infused products abroad.”
With the involvement of Professor Hahn, following completion of the Transaction, it is anticipated that the board of directors of the Company will consist of Patrick Morris, Geoff Balderson, David Dalton and David Hahn. Management of the Company will consist of Patrick Morris as Chief Executive Officer and Corporate Secretary, and Geoff Balderson as Chief Financial Officer.
About EuroMed Therapeutics Ltd.
EuroMed aims to be a leading low-cost high-quality medical grade cannabis producer in Israel with a focus on both the domestic Israeli market and the emerging European cannabis market. Through its participation in a joint venture, EuroMed intends to embark on an industrial-scale cannabis farming operation including up to a 269,098 square foot (25 dunam) cannabis designated cultivation property located 45 minutes outside of Jerusalem, Israel. The venture intends to build a 22,000 square feet greenhouse facility on the property to cultivate medical grade cannabis for the purposes of servicing the domestic medical cannabis market and exports into Europe. EuroMed will be working with leading greenhouse engineering and construction firm Eisenberg Agri Company (Israel) Limited (EACi) to design and build a state of the art modular greenhouse facility with expected completion by March 2020.
Completion of the Transaction
Completion of the Transaction remains subject to a number of conditions, including receipt of any required regulatory and third-party consents, approval of minority shareholders of the Company to the delisting of the Company’s common shares from the TSX Venture Exchange, completion of a consolidation of the common share capital of the Company, completion of a financing, the Canadian Securities Exchange having conditionally accepted the listing of the Company’s common shares, the TSX Venture Exchange having consented to the voluntarily delisting of the Company’s common shares, and the satisfaction of other customary closing conditions.
The Transaction cannot close until the required approvals are obtained, and the Company’s common shares have been delisted from the TSX Venture Exchange. There can be no assurance that the Transaction will be completed as proposed or at all, or that the Company’s common shares will be listed and posted for trading on any stock exchange. Trading in the Company’s common shares is currently suspended and it is anticipated that trading will remain suspended until completion of the Transaction.
Further information regarding the Transaction will be made available in due course. Readers are encouraged to review the listing statement which will be prepared by the Company in connection with the listing of the Company on the Canadian Securities Exchange, and which will be made available under the Company’s profile on SEDAR (www.sedar.com).
For more information contact:
Patrick Morris, Chief Executive Officer
[email protected] or 604-283-1722
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 TSX Venture Exchange, nor the Canadian Securities Exchange, has in any way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.
Completion of the Transaction is subject to a number of conditions, including but not limited to, the consent of the TSX Venture Exchange to the delisting of the Company, the Canadian Securities Exchange having conditionally accepted the listing of the Company, and disinterested shareholder approval. The Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the listing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative.
SOURCE: Reward Stream Solutions