VAUGHAN, Ontario, Jan. 14, 2019 (GLOBE NEWSWIRE) -- Green Axis Capital Corp. (the "Company") announces that trade resumption will not take place today and will be extended to January 21, 2019. The extension is due to a change in transfer agents.
The Company has appointed Odyssey Trust Company ("Odyssey") as its new transfer agent. Odyssey was selected as the new transfer agent due to their commitment to, and understanding of, the unique elements of the cannabis market. Odyssey acts for many of the major listed companies with cannabis interests in Canada and the United States.
Upon trade resumption, the Company anticipates that its common shares will resume trading under its new symbol "BILZ", following the Company's previously announced name change to "Ignite International Brands, Ltd." and second consolidation of its common shares on a 5:1 basis.
The Company anticipates filing an amended Listing Statement on or before the trade resumption date to update the corporate and business information of the Company, including the board and management changes announced on January 8, 2019 as well as the name change and share consolidation. The Company currently has 103,471,210 common shares issued and outstanding and anticipates that, following the consolidation, 20,694,242 common shares will be issued and outstanding on a non-diluted basis.
In the near future, additional items will be announced around the launch of the Ignite brand and products into Canadian and global markets.
About Ignite International Brands, Ltd.
Ignite International Brands, Ltd. is an investment company with a focus on opportunities in the Canadian and global cannabis sector. The Company has a Trademark & Copyright License Agreement with Ignite International, Ltd., a company founded by Dan Bilzerian, that permits it to market, promote, manufacture, sell, and distribute Ignite branded products in Canada and in all international markets, as well as investments in cannabis and cannabis-related companies.
For further information, please contact:
Eddie Mattei, Chief Financial Officer and Corporate Secretary
THE CANADIAN SECURITIES EXCHANGE (CSE) HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: execution of the business plans of the Company, expanding the Canadian and international commercial presence of the Ignite brands and branded products, appointment of its new transfer agent, completion of the proposed consolidation and the anticipated trade resumption of the Company's common shares on the CSE. Forward-looking statements are necessarily based upon several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; ability of the Company to give effect to its business plan; reliance on Dan Bilzerian and the Ignite brand which may not prove to be as successful as contemplated; the ability to and risks associated with unlocking future licensing opportunities with the Ignite brand, building a global cannabis brand, and the ability of the Company to capture significant market share; ability to source and secure companies or businesses to acquire and risks related to the acquisition of such companies or businesses; and the uncertainties surrounding the cannabis industry in North America. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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