Company Will Determine Dividend to be Issued to Shareholders and Ex-Dividend Date
MIAMI, FL / ACCESSWIRE / July 14, 2017 / New Colombia Resources, Inc. (the "Company") (OTC PINK: NEWC), a Colombian natural resource company, listed in the U.S., with premium metallurgical coal and medical marijuana assets, has signed a consulting agreement to spin out their medical marijuana joint venture in Colombia, SANNABIS SAS, into its own public company through a reverse merger with a public company trading on London's AIM. The subsequent company will be named SANNABIS, PLC. Sannabis SAS will retain full control of the company trading on the AIM.
AIM is the London Stock Exchange's international market for smaller growing companies. A wide range of businesses, including early stage, venture capital backed, as well as more established companies, join AIM seeking access to growth capital. For more information, visit http://www.londonstockexchange.com/companies-and-advisors/aim/aim/aim.htm.
New Colombia Resources has identified the public company trading on the AIM wanting to merge with Sannabis SAS and has been working with experienced consultants on listing project management, financial information, business planning and valuation, legal and tax issues, corporate governance, and compliance. Due to the nature of Sannabis business model, the terms of the transaction are very favorable to New Colombia Resources and Sannabis. There are few, if any, publicly traded medical marijuana stocks on the AIM. The transaction is projected to be closed in Q4 2017 and an ex-dividend date will be announced at any time. SANNABIS, PLC will have a secondary listing on the Frankfurt Stock Exchange to further access European investors.
The SANNABIS, PLC listed company will include working capital of 500,000, so Sannabis can rapidly expand its operations to meet the needs of local and international markets. SANNABIS, PLC will simultaneously sign an equity funding term sheet with European investors for 5,000,000 to further develop and expand their business model. The projected market capitalization for SANNABIS, PLC is 25,000,000,000.
New Colombia Resources acting CFO, Albeck Financial Services, has been working with their auditors, Sadler Gibb & Associates, to complete their SEC filings to be fully compliant. The first filings were expected in the preceding weeks; however, they are determining the best course of action to release these filings, either quarterly as they are completed, or the 10Ks for 2015 and 2016 simultaneously.
"I want to thank my loyal shareholders for their continued support. In my opinion, the spin-off of Sannabis, along with our mining operations already in production and subsequent operations to begin soon, will greatly enhance shareholder value," commented John Campo, President of New Colombia Resources, Inc. "Ive been working hard, behind the scenes, putting together a mining portfolio that will implement new technologies that will create great interest in our Company. Although I have been overly optimistic about the timing of our SEC filings, I have to let the professionals do their job so I can concentrate of growing the value to my shareholder. Anyone that doesn't understand that should sell their shares and move on," Mr. Campo further commented .
New Colombia Resources will begin legally marketing Sannabis products in the U.S along with shareholder, Colombia's retired MLB All Star World Series MVP, Edgar Renteria. The Company will also approach Colombian football (soccer) stars playing in Europe to market their topical pain creams in the respective countries where each star plays.
New Colombia Resources and Sannabis are committed to developing this new industry in Colombia, creating value added jobs that will sustain regions of the country that were vulnerable during Colombia's 50-year armed conflict. Last year, New Colombia was approached by the US Army's Civil Affairs office to help one of these regions. Sannabis has received support from the Colombia military through a special program designed to promote products from these vulnerable areas. Sannabis is helping prevent illegal crops from being implemented.
Sannabis SAS has received a Registro Sanitario from Colombias Ministry of Healths INVIMA (National Institute for Food and Drug Monitoring) that facilitates the export of these products.
The Registro Sanitario number is NSOC78859-17CO. This can also be accessed directly on INVIMA's website by inputing Expediente number 20127339 (http://farmacovigilancia.invima.gov.co:8082/Consultas/consultas/consreg_encabcum.jsp).
Their registry number is for 10 brands, but only four were registered; Sannaxhol (pain relief, anti-inflammatory), Sannaderm (for skin abrasion and post tattoo care), Sannalip (lip balm), and a product soon to be announced. The Company plans to register an additional six products, possibly through joint ventures, for worldwide distribution.
For a catalog of Sannabis products, visit http://www.sannabis.co/ver-catalogo.
For a video on the history of Sannabis, visit https://youtu.be/xzuFtp5-Iyo.
Follow Sannabis on Facebook for photos and testimonials at https://www.facebook.com/sannabis.oficial/.
New Colombia Resources, Inc.
New Colombia Resources, Inc. owns vast reserves of premium metallurgical coal mining titles and a medical marijuana joint venture in the Republic of Colombia. They are setting up a rock mining operation to supply the major road and infrastructure projects within miles of their properties. They own 100% of La Tabaquera metallurgical coal mine in Colombia with an estimated 15- 17 million tonnes of reserves. They have an additional 1196 ha. metallurgical coal mining title that they are negotiating to develop with a foreign entity to build a coal fired power plant. New Colombia Resources holds a significant position in Sannabis SAS, which legally produces medical marijuana products in the Republic of Colombia. Visit www.sannabis.co for more information. For more information on the Company, visit www.newcolombiaresources.com.
Forward-Looking Statements; This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing works such as "anticipate," "seek," intend," "believe," "plan," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements might not occur. Factors that could cause or contribute to such differences include financing, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations. New Colombia Resources, Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.
New Colombia Resources, Inc.
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SOURCE: New Colombia Resources, Inc.