New Wave Holdings Announces Closing of Acquisition of Additional 25% Interest in Anahit Therapeutics

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TORONTO, Sept. 23, 2020 /CNW/ - New Wave Holdings Corp. (CSE: SPOR) (FWB: 0XM2) (OTC: TRMND) ("New Wave" or the "Company"), is pleased to announce that further to its press release of August 28, 2020 it has completed the acquisition of an additional 25% interest in Anahit Therapeutics Ltd. ("Anahit") pursuant to the terms of a share exchange agreement dated August 26, 2020 (the "Agreement").

Pursuant to the terms of the Agreement, New Wave acquired 25% of the outstanding Class A shares (the "Transaction") in the capital of Anahit (such that the Company now owns 75% of Anahit) from Anahit International Corp. in consideration for the issuance of 12,791,667 common shares in the capital of New Wave (the "Payment Shares").  The Payment Shares were issued at a deemed price of $0.115 per share.  The Payment Shares are not subject to any hold period under applicable securities laws.

In connection with the Transaction, the Company has appointed two directors to the board of Anahit.

ABOUT NEW WAVE HOLDINGS CORP. and ANAHIT THERAPEUTICS LTD.

New Wave Holdings Corp. (CSE: SPOR, FWB: 0XM2, OTC:TRMND) is an investment issuer focused on the burgeoning psychedelic and esports sectors.

In the psychedelic sector New Wave will focus on active psychedelic compounds, functional mushroom product lines, and develop an IP portfolio focusing on psilocybin, LSD, MDMA, and ketamine derived treatments for neuropsychiatric diseases.

Investors interested in connecting with New Wave Holdings can learn more about the company and contact the team at http://newwavecorp.com

Media interested in interviews and more information may contact Brittany Whitmore at [email protected]

The securities to be issued in connection with the Transaction have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.

The CSE does not accept responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING INFORMATION DISCLAIMER

Certain statements contained in this news release may constitute forward looking information, including but not limited to, expansion of operations. Forward looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward looking information. The Company's actual results could differ materially from those anticipated in this forward looking information as a result of competitive factors and competition for investment opportunities, challenges relating to operations in international markets, transaction execution risk, changes to the Company's strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward looking information are reasonable based on current expectations and potential investment pipeline, but no assurance can be given that these expectations will prove to be correct and such forward looking information should not be unduly relied upon. Any forward looking information contained in this news release represents the Company's expectations as of the date hereof, and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.

SOURCE New Wave Holdings Corp.