Plant & Co Brands (CSE: VEGN) is evidently spinning out assets. The company this morning announced that it will be spinning out certain technology and True Focus assets, which is the firms cannabis related technology.
The tech and assets are to be spun out of the company as the firm undergoes a reorganization of its assets. The assets are to be spun out as a separate publicly listed reporting issuer, with a record date for the arrangement to be released “in due course.”
The spin-out evidently is slated to occur rather soon, with the record date to occur with the second quarter of 2021. Shareholders at the time of the record date are to be entitled to receive common shares of the new firm based on the amount of shares held in the company as of the date of record.
“The new company will take ownership of cannabis related assets and the top tier cannabis clients, while Plant&Co will continue focus on expanding plant-based food products including Holy Crap breakfast cereals and YamChops franchise opportunities throughout North America.”
Shawn Moniz, CEO of Plant&Co
The spin-out is being conducted as a means of unlocking shareholder value for investors.
Sponsored · Selkirk Copper Mines
Plant&Co Brands last traded at $0.25 on the CSE.
FULL DISCLOSURE: Plant & Co is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Plant & Co on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
One Response
The company must have other problems working against them cause no matter what the news or how good the news might be they just bring out sellers, do they have a fund that is liquidation its holding or what????? They have been on a down hill run for the last month or so. what may that be?