CALGARY, AB / ACCESSWIRE / January 16, 2020 / CanadaBis Capital Inc. ("CanadaBis" or "the Company") is pleased to report that at its Annual & Special Meeting, held on January 15, 2020, Travis McIntyre, Gregory Smith, Donald Cowie, Alex Michaud, Barbara O'Neill and Shane Chana were elected to the Board of Directors. We are extremely pleased to welcome Mr. Chana who replaces Scott Reeves as a Board member. CanadaBis would like to express its thanks to Mr. Reeves for his contributions to-date, in the areas of securities, corporate governance, corporate finance and strategic operations.
Mr. Chana has been the Chief Financial Officer of Centerfire Energy Group since 2016, which is an oilfield service group located in Fort McMurray, Alberta. Prior to this, he worked at MNP LLP, a Canadian national public accounting firm from 2009 to 2016 as a Senior Manager. Mr. Chana holds a Bachelor of Commerce degree from the University of Northern British Columbia and obtained his Chartered Accounting designation in 2012.
"We are extremely pleased to welcome Shane Chana to our Board and look forward to benefiting from his vast experience in the areas of finance and fiscal management. While pursuing his Chartered Accounting designation, Shane was responsible for managing a wide range of small business clients primarily in the energy sector within Alberta, which has seen a significant amount of volatility over the years. Shane then transitioned to his role as Chief Financial Officer for Centerfire Energy Group which is a private enterprise that has seen significant grown in light of the downturn in the Oil Industry in Alberta over the last four to five years." stated Travis McIntyre, President and CEO of CanadaBis. "We look forward to learning and benefitting from his proven track record of leading successful teams to deliver outstanding returns to investors. We look forward to his leadership role in taking the Company through its next, and most important phase of growth and development."
CanadaBis has also granted to Mr. Chana, under its Stock Option Plan, options to purchase up to 600,000 common shares for a period of five years commencing January 16, 2020 at an exercise price of $0.20 per share. The options will vest over a period of three years.
Shareholders also approved fixing the number of directors at six, the appointment of BDO Canada LLP as Auditors and ratified the stock option plan.
CanadaBis Capital, through its subsidiary Stigma Grow, currently operates 22,000 sq/ft of production space and has made significant progress in their Phase 2 expansion, which will increase this area to 66,000 sq/ft by mid-2020. The Company has established itself as a strong Alberta brand with the ability to influence several aspects of the emerging cannabis industry via four pillars of business: cultivation, processing & extractions, lifestyle products and retail.
About CanadaBis Capital Inc.
CanadaBis Capital Inc. (TSXV:CANB) is a vertically integrated Canadian cannabis company focused on achieving large-scale growth in the fast-emerging global cannabis market. By targeting organic growth opportunities alongside the right-fit partners, we remain focused on finding and capitalizing on chances to grow, diversify and continue to lead our industry.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to our business and operations including development and expansion plans and the timing thereof. Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: compliance with extensive government regulation, the general business, economic, competitive, political and social uncertainties; requirement for further capital, delay or failure to receive board, shareholder or regulatory approvals; the results of operations and such other matters as set out in the Filing Statement available on SEDAR at www.sedar.com. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking statements. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although we believe that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on our future results, performance or achievements.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. CanadaBis Capital does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
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.
SOURCE: CanadaBis Capital Inc.