MJardin Terminates the Acquisition of Cannabella
May 29 2020 - 4:00PM
MJardin Group, Inc. (“
MJardin” or “the
Company”) (CSE: MJAR) (OTCQX: MJARF), a leader in
premium cannabis production, announced today that it has terminated
its previously announced acquisition of Carson City Agency
Solutions, dba Cannabella (the “
Acquisition”), a
producer of edibles and topicals located in Carson City,
Nevada.
The Acquisition, which was expected to close in late 2019, could
be terminated by the parties if the transaction hadn’t closed by
April 2020. Given the delay in transferring the license, the
Company elected to terminate the Acquisition. The Company and the
vendor are in discussions regarding fees, expenses, and the status
of the deposit consideration made in respect of the
Acquisition.
About MJardin Group
MJardin Group’s mission is to set the standard for successful
ownership and management of assets in the cannabis industry. Our
Colorado founders spent a decade refining cultivation methodology,
collecting and implementing data driven standards and designing
state of the art facilities. Today, MJardin owns or manages
multiple operations in two US states and three Canadian provinces,
supplying the market with premium products. We are committed to our
Canadian First Nation joint ventures and all our partnerships
across the cannabis supply chain. MJardin is publicly listed on the
CSE (MJAR) and the QXOTC (MJARF) with offices in Denver, Colorado
and Toronto, Ontario. For more information, please visit
www.mjardin.com
The CSE has not in any way passed upon the merits of and has
neither approved nor disapproved the contents of this news
release.
This news release does not constitute an offer to sell or a
solicitation of an offer to sell any of the securities in the
United States. The securities have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the “U.S. Securities Act”) or any state securities laws
and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available.
Forward-Looking InformationThis news release
contains forward-looking information based on current expectations.
Statements about, among other things, future developments and the
business and operations of MJardin, our production capacity, our
production results, trading of MJardin’s shares on the OTCQX Best
Market, the closing of the Transaction, the receipt of any pending
regulatory approvals or licenses, the growth of our global
footprint and our intentions to leverage our scale for continued
organic growth and to pursue strategic investments are all
forward-looking information. These statements should not be read as
guarantees of future performance or results. Such statements
involve known and unknown risks, uncertainties and other factors
that may cause actual results, performance or achievements to be
materially different from those implied by such statements. Such
factors include, but are not limited to: our ability to identify
and pursue growth, financing and other strategic objectives, and
the regulatory and economic environments in the jurisdictions we
operate or intend to operate or invest in. Although such statements
are based on management’s reasonable assumptions at the date such
statements are made, there can be no assurance that the proposed
acquisition will occur and that such forward-looking information
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such
forward-looking information. Accordingly, readers should not place
undue reliance on the forward-looking information. MJardin assumes
no responsibility to update or revise forward-looking information
to reflect new events or circumstances unless required by
applicable law.
INVESTOR
CONTACT: |
|
Ali Mahdavi |
Pat Witcher |
Capital Markets & Investor Relations |
Chief Executive Officer |
416-962-3300 |
720-613-4019 |
Ali.mahdavi@MJardin.com |
|
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