Calgary, Alberta--(Newsfile Corp. - January 6, 2021) - Discover Wellness Solutions Inc. (CSE: WLNS) (formerly RMMI Corp.) ("Discover Wellness" or the "Company"), a licensed producer and processor under the Cannabis Act (Canada), is pleased to announce that the Canadian Securities Exchange (the "CSE"), pursuant to the name change that was approved by the Company's shareholders on December 22, 2020, has approved the use of the ticker WLNS. Discover Wellness will trade on the Canadian Securities Exchange (the "CSE") under the symbol "WLNS" effective January 6, 2021. Additionally, the Company has hired ARU Global Inc. to raise investor awareness for an initial period of six months for $4,500 per month.
The Company's name change from "RMMI Corp." to "Discover Wellness Solutions Inc." and new ticker is part of a strategy to better reflect the Company's current operations which are more focussed on the much larger CBD market and away from cultivation of cannabis. The new name more closely aligns with the Company's vision to establish its cost leadership in CBD extraction with a focus on the non-psychoactive space, to create value for shareholders
"The name change is part of strategy to rebrand our Company and focus attention on our wellness strategy," commented Peter Cheung, Interim Chief Executive Officer and Chief Financial Officer.
The Company would like to issue a correction in relation to the press release ("PR") issued on December 29, 2020 and titled, "RMMI Announces Completion of Name Change to Discover Wellness Solutions, Takes Possession of 550,000 kg of High-CBD Biomass and Completes Strategic Alliance with SynerGenetics Bioscience". The title and text in the PR should be changed to 550,000 lbs and that all references to "kgs" should be changed to "lbs".
In connection with taking possession of the first 550,000 lbs of high-CBD hemp biomass pursuant to the Company's previously announced Hemp Contribution Agreement and the completion of the SynerGenetics Bioscience Inc. Strategic Alliance agreement, the Company has issued 19,734,000 common shares. It is a transformational deal as this purchase of hemp for Discover Wellness common shares and contingent consideration translates to a working capital savings of over $5 million and results in SynerGenetics Bioscience Inc. becoming a major shareholder and strategic partner to the Company.
Discover Wellness Solutions Inc.
Discover Wellness (formerly RMMI Corp.) is a Canadian company licensed, through its subsidiary, to cultivate, produce, process and sell cannabis in various forms. The Company's vision is to enhance shareholder value by establishing cost leadership in hemp processing and CBD extraction coupled with a global distribution strategy.
Contact Information:
Manish Grigo, Chief Strategy Officer
mgrigo@discoverwellnesssolutions.ca
416-569-3292
Peter Cheung, Interim Chief Executive Officer and Chief Financial Officer
ir@discoverwellnesssolutions.ca
403-910-9191
Certain information set forth in this news release contains forward-looking statements or information ("forward-looking statements"). By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks, competition from other industry participants, stock market volatility, and the ability to access sufficient capital from internal and external sources. Although the Company believes that the expectations in its forward-looking statements are reasonable, its forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. Risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in our public disclosure documents available at www.sedar.com. Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
Trading in the securities of WLNS should be considered highly speculative.
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