VANCOUVER, British Columbia, Aug. 21, 2019 (GLOBE NEWSWIRE) -- Wolfpack Brands Corporation (“Wolfpack” or the “Company”) is pleased to announce that, further to its press release dated August 21, 2019, it has partially completed its previously announced debt settlement (the “Debt Settlement”) transactions with, among others, certain directors and officers and former directors of the Company (the “Creditors”). Pursuant to the Debt Settlement, the Company issued an aggregate of 100,500,000 common shares in the capital of the Company, at a deemed price of $0.005 per common share, in consideration for the settlement of a total of $502,500 in outstanding loans and accrued interest owing to the Creditors.
The common shares issued pursuant to the Debt Settlement and the Private Placement will be subject to a four month hold period from August 21, 2019.
Wolfpack Brands Corporation is a consumer cannabis products company focused on acquiring, integrating and growing market-proven brands in the United States of America. For more information, please visit www.amongwolves.com.
For further information please contact:
Richard Buzbuzian, President, CFO and Executive Chairman
Wolfpack Brands Corporation
700, 595 Burrard Street
Vancouver, BC V7X 1S8
Phone: (647) 501-3290
Forward Looking Information
This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. More particularly and without limitation, this news release contains forward‐looking statements and information relating to the Company’s completion of the Debt Settlement transactions. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the Company’s ability to continue operations without adequate capital, the Company’s ability to raise further capital, the Company’s ability to efficiently and successfully explore and develop new opportunities, failure to identify future transactional counter-parties, and the likelihood of any transaction being consummated. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.