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California-based INDUS expands north into Canada’s budding recreational cannabis trading market
TORONTO and SALINAS, Calif., April 30, 2019 (GLOBE NEWSWIRE) -- Indus Holdings Inc. (CSE:INDS) (the "Company") is pleased to announce that following its recently completed business combination with Salinas, California-based Indus Holding Company ("Indus"), the subordinate voting shares of the Company (“Subordinate Voting Shares”) will commence trading on the Canadian Stock Exchange (the “CSE”) effective at market open today, under the symbol INDS.
The move – one of the boldest yet for a company celebrated as much for its innovation as its award-winning cannabis products – follows a reverse takeover of the Company (formerly Toronto-based Mezzotin Minerals Inc.) by Indus (the “Transaction”). With the Transaction complete and the resulting issuer becoming a publicly traded enterprise, the company has again solidified its position as a market leader.
“This long-anticipated move to the Canadian Securities Exchange creates a world of opportunities for Indus to build upon our success in California and expand into new markets,” says co-founder and Chief Executive Officer Robert Weakley. “Having access to additional capital will allow us to grow at a more rapid pace, furthering Indus’ position in the cannabis industry.”
Founded in 2014, Indus is a vertically integrated cannabis company with advanced production capabilities, including cultivation, extraction, manufacturing, brand sales & marketing, and distribution. The company’s entry into Canada comes as it continues adding new products to a portfolio that already includes World Cannabis Cup favorite House Weed, The Original Pot Co., MOON, Acme, Beboe, Dixie Elixirs & Edibles, and Orchid Essentials.
For further details of the Transaction and Indus, please refer to the CSE listing statement of the Company dated April 23, 2019, available on SEDAR at www.sedar.com.
Indus Holdings, Inc. Company Contact
Chief Executive Officer
ABOUT INDUS HOLDINGS, INC.
Indus Holdings, Inc. (CSE:INDS) is a vertically integrated cannabis company with world-class production capabilities, including cultivation, extraction, manufacturing, brand sales & marketing, and distribution. Founded in 2014 by hospitality veteran Robert Weakley and based in Salinas, California, Indus offers services supporting every step of the supply chain and an extensive portfolio of award-winning brands, including House Weed, The Original Pot Co., MOON, Acme, Beboe, Dixie Elixirs & Edibles, and Orchid Essentials. Indus Distribution, a division of Indus Holdings, Inc., is a leading distributor of cannabis products, servicing an extensive portfolio of brands and licensed retailers throughout California.
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. 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 U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Forward-Looking Information and Statements
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's and Indus’ beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's and Indus’ control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein may include, but are not limited to, expectations regarding the timing of commencement of trading on the CSE, the ability of the Company to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors.
By identifying such information and statements in this manner, the Company and Indus are alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company and Indus to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company and Indus have made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: the potential impact of the consummation of the Transaction on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; and the receipt of applicable regulatory approvals. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and neither the Company nor Indus undertakes to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company, Indus or persons acting on their behalf are expressly qualified in its entirety by this notice.