VANCOUVER, BC / ACCESSWIRE / September 30, 2021 / Love Pharma Inc. (CSE:LUV) (the “Company“) announces that it has changed its name, has completed the arms-length acquisition of all of the shares of private BC-based Kick Pharmaceuticals, Inc. (“Kick“), and has affected a two for one consolidation. The Company has issued 183,067,857 common shares, at a deemed value of $0.10 per share, to the shareholders of Kick. In concurrent transactions, the Company issued 20,000,000 shares to the shareholders of 1288339 BC Ltd at a deemed price of $0.10 and issued 3,000,000 shares at a deemed price of $0.10 to Callitas Health, Inc., pursuant to certain product license agreements.
Post transactions, there are 314,919,945 shares issued and outstanding with an additional 73,626,130 shares reserved for issuance, pursuant to various warrants. Of the shares currently issued and outstanding, 140,500,000 are subject to trading restrictions until January 23, 2022. An additional 3,494,000 shares are subject to a three-year escrow agreement, in accordance with exchange policies.
As part of the transaction, Zach Stadnyk of Vancouver, BC, has joined the board and has assumed the role of president and CEO, with Doug Taylor remaining on the board.
The transaction was considered a Fundamental Change pursuant to the policies of the Canadian Securities Exchange and was subject to shareholder approval and CSE review. A listing statement containing more details of the transaction has been filed with the CSE as well as on www.sedar.com. The Company is advised that its shares will commence trading under the symbol LUV on the CSE on Thursday, September 30, 2021.
About Love Pharma Inc.
With a focus on the Global Sexual Health, Wellness, and Psychedelics markets LOVE PHARMA (CSE:LUV) was founded in 2020, with a mission to bring to market innovative products that enhance sexual health and wellness while providing an improved quality of life. Love Pharma holds exclusive licenses to produce market, package, sell, and distribute patent-protected therapeutic and pharmaceutical products throughout Europe, the United Kingdom, and North America. Love anticipates increasing value for shareholders through further mergers and acquisitions that complement its strong portfolio of intellectual property.
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Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained in this release may constitute “forward-looking statements” or “forward-looking information” (collectively “forward-looking information”) as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “anticipates” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
SOURCE: Love Pharma Inc.
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