#Cannabisstocks
- Westleaf (TSXV: $WL.V) (OTCQB: $WSLFF) Begins Trading in the US on the #OTCQB
Venture Market
Latest
development in Company’s execution of strategy to provide additional channels
for investors to participate
CALGARY, ALBERTA –March
5, 2019 – (Investorides.com Newswire) Westleaf Inc. (TSX-V: WL) (OTCQB:WSLFF) (“Westleaf”) is pleased to announce
it has been approved to begin trading on the OTCQB effective immediately.
Westleaf begins trading tomorrow under the symbol “WSLFF”. Investors can find
real-time information on the Company and the trading statistics at
www.otcmarkets.com.
Read this in full at https://www.investorideas.com/news/2019/cannabis/03051OTCQB-WSLFF.asp
“We are excited to
provide an additional channel for investors to participate in Westleaf by being
available to the US market through the OTCQB,” noted Scott Hurd, President and
CEO of Westleaf. “This comes at a time when we are executing on all aspects of
our vertically integrated cannabis strategy, from cultivation, and extraction
through to product formulation and retail distribution.”
Highlights:
·
Trading Under
“WSLFF” on OTCQB: Westleaf will be trading under the symbol WSLFF and will be available
immediately on the OTCQB;
·
Vertically
Integrated Company: Westleaf is a Canadian vertically integrated cannabis company operating
or developing assets for the Canadian medicinal and recreational cannabis
marketplace;
·
Westleaf operates or is developing assets across the cannabis value chain,
including:
o Cultivation: A 130,000 square foot indoor cultivation
facility in Saskatchewan under construction and expected to produce ~14,600 kg
of flower per annum once both phases are completed (see assumptions in forward looking statements)
o Extraction: A 60,000 square foot extraction and
production facility in Alberta under construction, which is expected to produce
a variety of derivative cannabis products, including tincture oil and gel caps
(currently allowed under the Cannabis Act in Canada)
o Distribution: Retail operations under the unique Prairie Records brand rolling out across
Western Canada with plans to open up to 50 stores by the end of 2020.
Westleaf joins a growing
list of Canadian companies that have chosen to trade on the OTCQB. The market
provides companies with increased exposure to US and global investors
interested in the cannabis space.
About Westleaf Inc.
Westleaf is a
vertically integrated cannabis company focused on innovative retail experiences
and engaging cannabis brands as well as cultivation, production and extraction
of cannabis products. Westleaf is rolling out a national retail footprint for
its retail concept Prairie Records,
with stores planned for British Columbia, Alberta, Saskatchewan and potentially
Ontario. The retail concept leverages the instinctual tie between recreational
cannabis and music and redefines the cannabis purchasing experience. The
Company also has two significant production facilities under construction and
scheduled for completion in 2019. For more information, please visit
www.westleaf.com or www.prairierecords.ca.
More
Information:
Bruce Leslie, VP Corporate Communications
Bruce Leslie, VP Corporate Communications
403-801-7612
Or
Chelsea Smyth, North Strategic
403-616-4956
Neither TSXV nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this release
Cautionary Statements
This
news release contains “forward-looking information” and “forward-looking
statements” (collectively, “forward-looking statements”) within the meaning of
the applicable Canadian securities legislation. All statements, other than
statements of historical fact, are forward-looking statements and are based on
expectations, estimates and projections as at the date of this news release.
Any statement that involves discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions, future
events or performance (often but not always using phrases such as “expects”, or
“does not expect”, “is expected”, “anticipates” or “does not anticipate”,
“plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or
“intends” or variations of such words and phrases or stating that certain
actions, events or results “may” or “could”, “would”, “might” or “will” be
taken to occur or be achieved) are not statements of historical fact and may be
forward-looking statements. This news release, forward-looking statements
relate, among other things, to: (i) the business and operations of Westleaf,
including the implementation of Westleaf’s vertically integrated cannabis
strategy; (ii) Westleaf’s cultivation facility in Saskatchewan currently under
construction (the “Thunderchild facility”), including the development of the
Thunderchild facility, the quality of the facility, the expected opening date
thereof, and production estimates from the Thunderchild facility; (iii)
Westleaf’s extraction and production facility in Alberta under construction,
and (iv) Westleaf’s retail operations roll-out across Western Canada. Such forward-looking statements are subject
to certain assumptions that are reasonable in management’s view, including that
the expected production numbers for the
Thunderchild facility are based on 7,300 kg of cannabis flower in each of Phase
I and Phase II of the Thunderchild cultivation facility, with Phase I
consisting of the following: facility floor plate of approximately 65,550
square feet (~85,000 total square feet); Phase I and II each have grow/flower
bench capacity of 21,000 square feet and assumes 60 grams per yield per square
foot per harvest and 5.8 harvests per annum. Cultivation and sale of cannabis
from the Thunderchild facility is subject to receipt of a license from Health
Canada. Forward-looking
statements are necessarily based upon a number of estimates and 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:
timing and completion of the exterior and interior of Westleaf’s facilities
under construction; completion of review of the facilities by Health Canada and
receipt of a license from Health Canada; compliance with all conditions to draw
down on the ATB Financial credit facilities of Westleaf; assumptions regarding
facility size, yield and harvests at the facility; general business, economic,
competitive, political and social uncertainties;. 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 the forward-looking
statements and information contained in this news release. Except as required
by law, Westleaf assume no obligation to update the forward-looking statements
of beliefs, opinions, projections, or other factors, should they change, except
as required by law.
This news is
published on the Investorideas.com Newswire – News that Inspires big ideas
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info regarding BC Residents and global Investors: Effective September 15 2008 -
all BC investors should review all OTC and Pink sheet listed companies for
adherence in new disclosure filings and filing appropriate documents with
Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global
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