May 31st, 2018 (VIA NEWSWIRE.CA)
OTTAWA, May 31, 2018 /CNW Telbec/ – PERCY STREET CAPITAL CORPORATION (TSXV: PSC.P) (“Percy Street” or the “Issuer“) LIVEWELL FOODS CANADA Inc. (“LiveWell Foods” or the “Company“) are pleased to announce that they have received conditional approval from the TSX Venture Exchange (“TSX-V”) with respect to their Qualifying Transaction (“QT”) previously announced January 16, 2018.
The two parties and a wholly owned subsidiary of Percy Street will enter an Amalgamation Agreement to consummate a three-corner amalgamation under the Canada Business Corporations Act. This will result in a reverse takeover of Percy Street by the Company to be renamed as LiveWell Canada Inc.
The Company is working towards satisfying the TSX-V conditions and expects to close the QT by June 12, 2018. Upon obtaining final approval, the Company will issue a further press release to inform shareholders when it anticipates that its common shares will commence trading on the TSX-V under the stock ticker of “LVWL”.
LiveWell Foods Canada Inc. is dedicated to the highest quality standards in delivering cannabis and hemp products. LiveWell is planning on developing two state-of-the-art production facilities with more than one million square feet of greenhouse production capacity, all to an unparalleled level of quality assurance, procedures, and testing. The company has established partnerships with leading sector names in Canada, with interests and operations abroad. O-Hemp is LiveWell’s bulk and retail hemp products division that distributes hemp products through its existing channel partners.
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