EPHS Holdings Inc. Completes AGM and Nevada Corporation Continuation to Canada

November 14, 2019 10:36 AM EST | Source: SKYE Life Ventures Inc.

Vancouver, British Columbia--(Newsfile Corp. - November 14, 2019) - EPHS Holdings Inc. (OTCQB: STNN) ("EPHS" or the "Company"), together with its wholly owned subsidiaries, Merritt Valley Cannabis Corporation ("MVC") and Emerald Plant Health Source (EPHS) Inc. (Emerald Montreal) is pleased to announce on October 17, 2019, EPHS held its Annual Meeting of Stockholders (AGM) where the following matters were voted upon and approved by the Company's stockholders:

  1. the election of six members to the Board of Directors;
  2. the approval of the Plan of Conversion to change the corporate jurisdiction of the Company from the State;
  3. the ratification of Thayer O'Neal Company, LLC as the Company's independent registered public accounting firm for 2019;
  4. the approval, on an advisory basis, of the say-on-pay proposal; and
  5. the selection of the frequency of say-on-pay votes.

The Company has now completed its corporate continuation process, item 2 of the AGM, whereby the Company changed its corporate jurisdiction from the State of Nevada to the Province of British Columbia, Canada (the "Continuation"). The Continuation was approved by the Company's stockholders at the Company's annual and special meeting on October 17, 2019. The British Columbia Registrar issued a Certificate of Continuation approving the Continuation on October 29, 2019, at 11:25 AM Pacific Time (the "Effective Time").

As a result of the Continuation, the Company is now governed by its Notice of Articles and Articles under the Business Corporations Act (British Columbia) (the "BCBCA") rather than its previous Nevada Articles of Incorporation and bylaws. The complete filing is available on EDGAR.

Milestones, Goals & Accomplishments

Stevan Perry, President EPHS Holdings Inc, said for the past twelve months, the company has focused on Canadian operations. "During the past year, the company's core focus has been on completing our license to produce and sell as well as the re-domicile (Continuation) of the company to Canada. This Continuation process will allow the Company to access our Canadian banking partners and Canadian listing requirements," Perry states. "This was a significant milestone for the company and its shareholders. This milestone now sets up the company's operations and profitability strategies as we move into 2020 and the Cannabis 3.0 era"

Over the past 12 months, the company has kept its goals concise and focused. Core highlights include: securing and receiving a Health Canada License to Produce on October 12, 2018; activating a craft and medical cannabis business strategy; continuing to improve a low-cost production strategy; and activated a strategic financing in November 2019. The Company has also completed a 56-acre land acquisition in Merritt British, Columbia as well has engaged in discussions to form a joint venture with Greenfield MC to develop cannabis business in Australia, New Zealand, and Greenfield. "Greenfield is excited and confident of the partnership, we recently toured Canada with the Canadian executive team alongside our New Zealand partners. The team and business model being delivered by EPHS Holdings are best in class and unique to the industry," says Nick Hanna, CEO.

At the Montreal, Quebec facility, following Health Canada inspections, EPHS has completed a Facility Energy and Optimization Project to enhance compliance requirements. The Company has secured genetics, activated cultivation cycles, activated new brand strategies.

Current Operations

Discussing current operations, Kevin Smith, Executive Vice President EPHS Holdings Inc., states that EPHS is strongly positioned for the execution of its business plan for 2020. "We are a cash flow focused company with proven operations, consistent crop harvest, strong compliance, low-cost operations and sensible expansion projects," Smith. "The company is strongly positioned for 2020 and Cannabis 3.0."

In the short term, Smith states that the focus remains on production consistency and profitability. "Consistency in our processes, product quality and product yields," says Smith. "Production predictability coupled with effective money management will establish a strong foundation from which we can build on. We have ambitious future growth and expansion plans, but first, our business must be rooted in delivering simple business results - consistency and profitability."

A Health Canada Licensed producer, EPHS is committed to delivering Canadians premium, hydroponic craft and medicinal cannabis by applying it's high yield cultivation methods with low-cost energy systems designs.

Forward Looking Statements

Certain statements contained in this news release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on expectations, estimations, and projections at the time the statements are made, and involve risks and uncertainties which could cause actual results or events to differ materially from those currently anticipated, including, but not limited to, delays, difficulties, changed strategies, or unanticipated factors or circumstances affecting EPHS Holdings Inc. and its business. Any forward-looking statement speaks only as of the date on which the statement is made, and, except as required by law, the Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. When considering these forward-looking statements, one should be mindful of the risk factors and other cautionary statements found in the Company's filings with the SEC, including, but not limited to, its Form 10-K, its subsequent Quarterly Reports on Form 10-Q, and its Current Reports on Form 8-K. The risk factors and other factors noted in the Company's SEC filings could cause actual results to differ materially from those contained in any forward-looking statement.

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Contact
kylem@ephsholdings.com
1-778-385-4945
About Emerald Plants Health Source
www.ephsholdings.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/49744

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