Hey Stockhouse, wanna get a move n the name change?!OTTAWA, ONTARIO--(Marketwired - Dec. 6, 2016) - CannaRoyalty Corp. (CSE:CRZ)(CSE:CRZ.CN) is pleased to announce that its wholly-owned subsidiary has completed a three-cornered amalgamation with Cannabis Royalties & Holdings Corp. ("CRHC") that has resulted in the reverse takeover of CannaRoyalty by CRHC (the "RTO").
As previously announced, CannaRoyalty received conditional approval to have its common shares listed on the Canadian Securities Exchange (the "CSE"). The CannaRoyalty common shares are expected to commence trading under the symbol "CRZ" on December 8, 2016, subject to satisfaction of the customary listing conditions of the CSE.
Completion of the RTO
Pursuant to the RTO, the issued and outstanding securities of CRHC were exchanged for equivalent securities of CannaRoyalty on a one-for-one basis. Prior to the RTO, CannaRoyalty changed its name from Bonanza Blue Corp. to CannaRoyalty Corp. and completed a 5 for 1 share consolidation. In addition, prior to the RTO, the escrowed proceeds from CRHC's previously announced brokered private placement of subscription receipts were released to CRHC. Each subscription receipt was converted into one CRHC share, which was then exchanged for one CannaRoyalty share pursuant to the RTO. CannaRoyalty expects to use the net proceeds of the Offering for future acquisitions, general corporate and working capital purposes.
A listing statement describing CannaRoyalty, prepared in accordance with the policies of the CSE, will be made available on SEDAR at www.sedar.com. The information regarding CannaRoyalty, the RTO and the financing contained herein is qualified in its entirety by reference to the more detailed information contained in the listing statement.
About CannaRoyalty Corp.
CannaRoyalty is a fully integrated, active investor and operator in the legal cannabis sector. Our focus is to build and support a diversified portfolio of growth-ready assets in key segments of the cannabis sector, including research, consumer brands, devices and intellectual property. Our management team combines a hands-on understanding of the cannabis industry with seasoned financial know-how, assembling a platform of holdings via royalty agreements, equity interests, secured convertible debt and licensing agreements.
Read more at https://www.stockhouse.com/news/press-releases/2016/12/06/cannaroyalty-completes-rto-and-announces-december-8-trading-date#pMkhbd9csTqsUTyA.99