Toronto, Ontario--(Newsfile Corp. - May 28, 2021) - The Hash Corporation ("Hashco" or the "Company") is pleased to announce that the Canadian Securities Exchange (the "CSE") provided the Company with conditional approval on May 27, 2021 to list its common shares ("Common Shares"). The Company is in the process of filing final documents with the CSE and, subject to satisfying customary listing conditions, expects the Common Shares to commence trading on June 3, 2021 under the ticker symbol "REZN" (the "CSE Listing").
The Company is also pleased to report that it has closed an additional tranche of its previously announced non-brokered private placement on March 18, 2021, for additional gross proceeds of $300,000 (the "Additional Financing"). Under the Additional Financing, the Company issued 3,000,000 Common Shares at a price of $0.10 per Common Share. The Additional Financing closed on May 27, 2021. First Republic Capital Corporation acted as the lead finder for the Additional Financing. The Company paid a cash commission to eligible finders equal to 6% of the gross proceeds raised, and paid a corporate finance fee equal to an additional 4% of gross proceeds. The Company also issued compensation warrants equal to 6% of the Common Shares sold under the Additional Financing, and corporate finance warrants equal to 4% of the Common Shares sold under the Additional Financing, each being exercisable into one (1) Common Share at a price of $0.10 per Share for a period of 24 months from the date of issuance thereof. All securities issued in connection with the Additional Financing are subject to a four-month hold period from the date of issuance in accordance with applicable securities laws.
The net proceeds from the Additional Financing will be used by the Company for operational expansion, business development and working capital purposes.
In connection with the CSE Listing, Yaron Conforti, Sruli Weinreb, and Jesse Kaplan resigned as directors of the Company, and Shimmy Posen has resigned as corporate secretary. The Company thanks them for their valuable contributions, and further wishes them every success in their future endeavors. The Company is pleased to announce that Donal Carroll, Tabitha Fritz, and Thomas Keevil have been appointed as directors of the Company, and Donal Carroll has been appointed as corporate secretary - all to fill the vacancies created by the foregoing resignations.
About The Hash Corporation
HashCo is a Canadian company positioning itself to focus on the production and sale of cannabis-based hashish and other cannabis products. HashCo intends to apply its separation and curing techniques to produce a suite of high-quality cannabis resin products, which are all-natural and free of additives and carcinogenic solvents. The Company intends to tailor its product offerings to pay tribute to historic traditions, fragrances and tastes, while upholding the highest health and safety standards.
As of the date of this press release, HashCo is actively seeking and developing partnerships and collaborations with licensed cultivators and other strategic partners within Canada, with the goal of crafting and introducing to the regulated market authentic products which reflect quality and innovation.
For additional information on the Company:
Chris Savoie
Chief Executive Officer and Director
Tel: 1-833-420-7396
Email: chris@hashco.ca
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities laws including the listing of the Common Shares on the CSE as well as information relating to the Company. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the costs of compliance with and the risk of liability imposed under the laws in which the Company is operating or will operate under including environmental and health product regulations; negative changes in the political environment or in the regulation of cannabis and the Company's business in Canada; negative shifts in public opinion and perception of the cannabis-based hashish industry and cannabis-based hashish consumption; increasing competition in the industry; risks relating to rising energy costs; risks of product liability and other safety-related liability as a result of usage of the products; risk of shortages of or price increases in key inputs, suppliers and skilled labor; loss of intellectual property rights or protections; cybersecurity risks; constraints on marketing products; fraudulent activity by employees, contractors and consultants; tax and insurance related risks and risk of litigation.
The statements in this press release are made as of the date of this release. The Company undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Company or its financial or operating results.
Not for distribution to United States newswire services or for dissemination in the United States.
This news release does not constitute an offer to sell or a solicitation of an offer to buy 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 a U.S. Person (as defined in in Rule 902(k) of Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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