Victoria Lake Inc. (LVCA)

[CashBowski]

I don’t know what your point is, but you should quote the entire paragraph where it discloses what I’ve been trying to relay all day — that LVCA was not the right fit for Yourist’s Grapefruit because it’s an alt. reporting shell and I quote: “a millstone around their neck” .. I can’t imagine a worse way of describing a ticker in a PR LOL. At this point Yourist brothers are simply majority shareholders here because they got stuck with the shell for lack of research — they’ll remain so until they sell their stake to get rid of the millstone. LVCA has nothing to do with what goes on in IGNG and Vice versa. End of story.

On January 22, 2019, GBI announced that its major shareholders Bradley and Daniel J. Yourist had purchased a controlling interest in Lake Victoria Mining Company (OTCPINK:LVCA) with the intent of utilizing LVCA as the corporate vehicle through which to operate its California cannabis enterprise. As part of that announcement Bradley Yourist stated that, among other things, “We are currently in the process of evaluating potential investments by non-affiliate investors seeking exposure to the legally compliant cannabis industry”. Shortly after that release, as LVCA began to explore obtaining financing utilizing the LVCA entity, it became apparent to new LVCA management that the consultant who had advised GBI with respect to the purchase of the LVCA entity and the financing prospects of the combined GBI/LVCA venture had made certain material misrepresentations concerning the LVCA entity and its ability serve as a corporate vehicle through which GBI/LVCA could quickly and compliantly obtain requisite debt and/or equity financing. As a result, GBI management began to explore alternatives and were introduced to IGNG management, with whom the Acquisition was discussed and subsequently agreed upon. With respect to this rapid shift in strategy Bradley Yourist, speaking on behalf of himself and GBI officer, director and co-founder, Daniel Yourist, stated, “Once we obtained new information from third parties, after we had delved into an examination of LVCA, it became apparent to us that an unaudited, alternative reporting company corporate vehicle such as LVCA would be a millstone around GBI’s neck at a time when the Company most required the ability to be able to obtain and react quickly to market financing and acquisition opportunities. IGNG as an audited, SEC current reporting OTCQB company presented a much better fit for GBI’s immediate financing needs and its short and long term goals as time is of the essence in order for a company such as GBI to succeed in the competitive and rapidly evolving cannabis space, as evidenced by the fact that less than a full week after announcement of the LOI, the Company received a commitment for its $1,250,000.00 bridge loan and $10,000,000.00 equity infusion. It has also been of significant value to us have input from John Hollister, current IGNG CEO who has previously been CEO and a Director of Nemus Bioscience, Inc. (OTCQB: NMUS) a biopharmaceutical cannabis company. While CEO of NEMUS, he company obtained $7,000,000.00 of early stage equity financing. We are very pleased that this unexpected opportunity arose for us and are determined to take advantage of it, not only as the founders and management of GBI but for the existing IGNG shareholder base”.