Transaction was approved by the CSE and the symbol in Canada has been changed to ICAN on the CSE: http://thecse.com/en/listings/life-sciences/integrated-cannabis-company-inc
ICANNACO TO COMMENCE TRADING ON CANADIAN SECURITIES EXCHANGE
Integrated Cannabis Company Inc., doing business as iCannaCo, further to its press release of June 4, 2018, has now received final approval from the Canadian Securities Exchange, and the company's common shares will resume trading on the CSE on June 8, 2018, under the symbol ICAN.
New Directors and Officers
In connection with the closing of the acquisition, the Company announces that certain of its previous directors and officers have resigned. The Company announces that the board of directors now consists of John Knapp, Clive Spray, Sothi Thillairajah and Nishal Kumar. Management now consists of John Knapp (CEO), Clive Spray (Chief Scientific and Operations Officer) and Eugene Beukman (CFO and Corporate Secretary).
The following are brief descriptions of the new directors and officers of the Resulting Issuer:
John Knapp -CEO, and Director
A pioneer in the legal cannabis industry and trained engineer, John Knapp is the founder of Colorado-based Good Meds and Bosm Labs, both award-winning vertically integrated medicinal-grade cannabis business operating a 90,000 sf cultivation and extraction facility in Denver. Mr. Knapp is also the former COO of PharmaCielo, a Colombian based, globally focused medicinal-grade cannabis extract company.
Previously, Mr. Knapp's professional endeavors include highly specialized cannabis consultation. Among these tasks are the design and engineering of proprietary cannabis manufacturing systems enabling the optimization of production yield and manufactured product output. As an early entrepreneur in the legal cannabis sector and recognized expert in the field, Mr. Knapp has lead over two dozen cannabis projects in eight States, Canada and Latin America.
Clive Spray - Chief Scientific and Operations Officer and Director
Dr. Clive Spray has spent his career in plant biology and nutrition. In 2011, Dr. Spray co-founded Spray Labs LLC, with the express purpose of developing, manufacturing and marketing high-quality, efficacious nutritional supplements based on the previously developed spray delivery system. Over the last 6 years, Dr. Spray has continued to develop and enhance not only the delivery system but also the range of products. He received his undergraduate and Ph.D. degrees in Chemistry in the UK, during which time he published his thesis on the analgesic properties of plant derived natural products. His post-doctoral studies included 15 years of research at UCLA, working at the forefront of the mapping of plant genomes, and publishing 27 papers on the subject. Since 1997, Dr. Spray has been responsible for the development and production of a range of liquid spray vitamins and a number of powdered nutritional products and developed and innovative oral spray delivery system for nutritional supplements.
Sothi Thillairajah - Director
Mr. Thillairajah has two decades of experience in management, international finance, advising North American corporations on Middle East joint ventures and early-stage, mineral projects in Africa and Latin America. He also has extensive experience working with investment professionals at Middle Eastern financial institutions, sovereign-wealth funds, and investment offices evaluating and recommending hedge funds and private equity investments.
Nishal Kumar - Director
Mr. Kumar is an entrepreneur in Vancouver, British Columbia. Mr. Kumar worked at Geopacific Consultants Ltd., Tesla Motors, and now runs two of his own companies. The first one, EVitems, makes coat hooks and other after-market parts and products for the Tesla cars. With his other company, he recently launched a product called DHM Destroy Hungover Mornings - a plant-powered supplement that reduces hangover symptoms and the toxic effect of alcohol on your body. Nishal holds a BSc in Geophysics and Commerce from the University of British Columbia.
Eugene Beukman - Chief Financial Officer and Corporate Secretary
Mr. Beukman is Corporate Counsel of Pender Street Corporate Consulting Ltd., a private company that provides accounting, legal and administrative services, and has held this position since January 1994. Mr. Beukman was previously employed as a legal advisor to the predecessor of BHP Billiton, a leading global resources company, a producer of major commodities, including iron ore, metallurgical coal, copper and uranium, with substantial interests in conventional and unconventional oil and gas and energy coal, and a company that creates long - term shareholder value through the discovery, acquisition, development and marketing of these natural resources. Mr. Beukman has over 20 years' experience in the acquisition of assets and joint ventures.
Stock Options
In connection with the CSE listing, the Company also announces that 3,600,000 incentive stock options were granted to eligible directors, officers, employees and consultants of the Company in accordance with the Company's stock option plan (the Option Plan"). The options have an exercise price of $0.40 per share and are exercisable for a period of five years unless terminated pursuant to the terms of the Option Plan. The options and any shares issued upon exercise thereof will be subject to a hold period of four months and one day from the date of grant.
About the Company
Integrated Cannabis Company, Inc., d/b/a iCannaCo(TM), is a global wellness enterprise focused on the development, manufacturing, marketing and distribution of innovative and highly effective botanically-based consumable products.
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