Forbes Andersen LLP - Early Warning Press Release
Toronto, Ontario--(Newsfile Corp. - July 11, 2019) - Forbes Andersen LLP ( "Forbes") has filed an early warning report (the "Early Warning Report") advising of its decrease in percentage holdings of subordinate voting shares (the "SV Shares") of Bhang Inc. (the "Company").
On July 9, 2019, the Company completed a reverse takeover transaction (the "RTO") with Bhang Corporation ("Bhang US"). The Company will carry on the business of Bhang US, which is now a wholly-owned subsidiary of the Company. With the completion of the RTO, the Company has 49,112,627 SV Shares issued and outstanding (on an undiluted basis) and 56,634.128 multiple voting shares ("MV Shares"). Each MV Share is convertible into 1,000 SV Shares in certain circumstances. The RTO resulted in Forbes holdings of 490,506 SV Shares in the Company decreasing to approximately 0.99% of the issued and outstanding SV Shares without the conversion of the MV Shares and approximately 0.46% of the issued and outstanding SV Shares upon conversion of the MV Shares.
This news release is being issued as required by National Instrument 62-104 - Take-Over Bids and Issuer Bids . A copy of the Early Warning Report can be obtained at www.sedar.com under the Company's profile.
For further information, please contact:
Michael Johnston, Partner
Forbes Andersen LLP
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/46227