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Cannabix Technologies Inc. Announces Record Date of Plan of Arrangement

March 5, 2015 -- Cannabix Technologies Inc. (CSE: BLO) (OTC PINK: BLOZF), is pleased to announce that, further to the previously announced plan of arrangement (the “Arrangement”) with Torino Ventures Inc. (“Spinco”), a private British Columbia company and wholly- owned subsidiary of the Company, the Company has set the record date for the Arrangement as March 10, 2015. Refer to the Company’s Information Circular dated January 14, 2015, for additional information concerning the Arrangement.
The record date for the Arrangement has been set as March 10, 2015 (the “Record Date”), which is the date for shareholders of the Company (the “Shareholders”) to participate in the Arrangement. The Company anticipates that the effective date for the Arrangement will be on or about March 12, 2015 (the “Effective Date”). Shareholders of record on the Effective Date will receive one new common share and one Class 1 Reorganization Share of the Company. On the Effective Date, and pursuant to the Arrangement, all of the Class 1 Reorganization Shares will be automatically transferred by Shareholders to Spinco in exchange for 8,000,000 common shares of Spinco to be issued to Shareholders on a pro rata basis (resulting in approximately 0.16 common shares of Spinco being issued for every one Class 1 Reorganization Share based on the Company’s current number of issued and outstanding shares). Immediately following this, the Company will redeem all of the Class 1 Reorganization Shares by the transfer to Spinco of $10,000 cash and the Hazeur Gold Property, also known as the Monster Lake Property, and all assets related thereto.
Fractional shares of Spinco will not be issued and any fractional shares resulting from the Arrangement will be cancelled. As the rights and restrictions of the new common shares are identical to the current common shares, no replacement share certificates for the new common shares will be distributed to Shareholders. Share certificates for the Spinco common shares will be distributed or credited to Shareholders of record on the Effective Date.
The shares of the Company will trade ex-distribution on March 6, 2015, meaning that purchasers of the Company’s shares after March 6, 2015, will not receive Spinco shares pursuant to the Arrangement.

Now on that March 12, 2015 date there was 50,941,778 common shares outstanding of Cannabix Technologies Inc and those holders received .16% of a new share of Torino or Spin-Co and 50,941,778 shares received 3,183,861 New Spin-Co shares which became Tornio - Those three Insiders also received some of these shares but have also bought or were paid in shares to gain so much shares now - Their Shares are valued at .10 Canada TSP or .076 USA TRWRF