RE:RE:RE:RE:RE:RE:RE:RE:Parent Company - Centr Brands???
The aforenoted was to provide background. This part 4 is the article refernced by fab4ever (Thank you ! ) and is the part that concerns me the most:
3. General Development of the Business
3.1 General Development of the Business
The Company
The Company was formed under the BCBCA on September 26, 2012 upon completion of an
amalgamation with RavenQuest, a CSE listed company, under the terms of an arrangement agreement
among Ravencrest Resources Inc. (a private British Columbia company) and 0943173 B.C. Ltd. (a
wholly-owned subsidiary of RavenQuest), pursuant to which the parties agreed to complete the
Arrangement. The Arrangement was approved by the RavenQuest shareholders on August 9, 2012 and
final court approval from the Supreme Court of British Columbia to the Arrangement was obtained on
August 14, 2012.
The Company’s Shares were listed for trading on the CSE, effective February 27, 2013. The Company
was previously an exploration stage company focused on the exploration of mineral property interests
located in Canada. Given the state of the financial markets for junior exploration companies, the Board
has made the decision to complete a Fundamental Change transaction by completing the CBDL
Acquisition in order to refocus its business on the burgeoning CBD sector in the United States in order to
increase shareholder value.
On October 18, 2018, the Company completed a non-brokered private placement of 4,000,000 Shares at a
price of $0.25 per Share for gross proceeds of $1,000,000. In connection with the completion of the
financing, the Company paid finder’s fees of $60,000 and issued 240,000 Warrants to an arm’s length
finder that assisted with the introduction of subscribers to the placement. Each Warrant is exercisable to
acquire one Share until October 18, 2019 at a price of $.50 per Share.
On December 21, 2018, the Company’s shareholders adopted a new set of articles in accordance with the
BCBCA and as more fully described in the Company’s information circular dated November 26, 2018,
which is filed under the Company’s SEDAR profile at www.sedar.com.