PureK Holdings Corp. (the "
Company,” or
“
PureK”) (TSX Venture: PKAN), along with its
majority-owned CBD subsidiary company, PureKana LLC,
(“
PureKana”), is pleased to announce that its
leading all-natural CBD brand, PureKana, will be distributed both
online and in stores at CBD Emporium, an upscale retail specialty
CBD chain with 25 locations throughout the United States.
PureKana’s industry-leading portfolio, including
its flavored pure hemp-derived CBD oils, sleep aids, immunity
boosts, vegan CBD-infused gummies, soothing CBD-infused topical
creams, and always perfectly dosed CBD capsules, among others, will
be stocked at all CBD Emporium locations and on the company’s
website, at www.cbdemporium.com. Customers can consult with CBD
Emporium’s experienced and knowledgeable sales associates to find
the right solutions that fit their wellness needs.
“CBD Emporium and PureKana share a core
value of educating consumers about the benefits of plant-based
wellness,” said Kathy Casey, CEO of PureK. “Their highly trained
retail sales associates enable customers to make an informed
decision in an often-confusing CBD category. As a top 10 brand
in the category, we are thrilled to have our brand connected to
this premium retail shopping experience.”
“Since its inception, PureKana has provided
the highest quality hemp CBD products on the market,” said Andrew
Young, Vice President of Product Management and Vendor Relations at
CBD Emporium. “Their dedication to quality and purity has helped
pioneer high-quality hemp CBD-based products in the marketplace.
Their wide variety of products in various forms and flavors will
allow CBD Emporium clients to find just the product that is right
for them. By adding PureKana to the CBD Emporium family we feel
confident together we will continue to be able to provide the best
information and education and to assist our clients to live a
better life and improve their health and wellness through CBD.”
“Our customers want PureKana products in our
stores, and it’s a true privilege for CBD Emporium to play a role
with their growing company,” said John Flanders, CEO of CBD
Emporium.
Customers can find the CBD Emporium location
closest to them by visiting the Store Locator on the company’s
website, at www.cbdemporium.com/pages/our-locations.
For more information about PureKana’s
industry-leading CBD portfolio, please visit www.purekana.com.
Adoption of Equity Incentive Plan and Grant of
RSUs
PureK today announces that the Board of Directors
of the Company (the “Board”) has adopted an equity
incentive plan (the “Plan”) for the purpose of
providing a share-related mechanism to attract, retain and motivate
qualified directors, employees and consultants of the Company and
its subsidiaries.
Under the new Plan, restricted share units
("RSUs") and deferred share units
("DSUs") may be granted to directors, employees
and consultants of the Company. The Plan permits the Company to
either redeem RSUs for cash, issue common shares of the Company
from treasury, or purchase common shares of the Company on the open
market, to satisfy all or any portion of a vested RSU award. The
Plan permits the Company to either redeem DSUs for cash or issue
common shares of the Company from treasury, to satisfy all or any
portion of a vested DSU award. Grants of RSUs and DSUs vest as to
1/3 on each of the first, second and third anniversaries of the
date of grant, unless otherwise set by the Board or plan
administrator. The maximum aggregate number of common shares that
may be issued under the Plan pursuant to the exercise or vesting of
awards, as applicable, shall not exceed 700,562 common shares.
The Plan is subject to the approval of the TSX
Venture Exchange and the disinterested shareholders of the Company.
Further details regarding the Plan will be set out in the
management information circular of the Company for the Company's
next annual general and special meeting of shareholders.
The Company has granted an aggregate of 130,000
RSUs to a consultant of the Company, which shall vest upon the Plan
receiving disinterested shareholder approval.
About PureK Holdings Corp.
PureK Holdings Corp. indirectly owns a 50.1%
equity interest in PureKana. PureKana is recognized as a Top 10
cannabidiol ("CBD") brand in the United States and
has operated a profitable direct-to-consumer online business since
its inception in 2017. Its product lineup includes high quality
CBD that can be consumed in the form of tinctures, capsules,
topicals, patches, and gummies. PureKana's brand and
direct-to-consumer marketing expertise has helped to establish
PureKana as one of the leading online CBD brands in the United
States. The online presence is now being expanded into broader
retail outlets, as well as into additional countries. PureKana
operates legally in the jurisdictions where it carries on
business. PureKana's website is:
https://purekana.com/investor-relations/
About CBD Emporium
Established in 2018, CBD Emporium is a privately held company
with 25 retail locations throughout the United States. The retailer
is the premier source for quality, trusted CBD products and offers
a diverse selection of more than 50 best-of-industry brands and its
own brand labeled products, derived from medical-grade organic hemp
plants. The company’s knowledgeable staff provides the best
information, education, and products to improve health and
wellness. CBD Emporium headquarters are located at 2424 W. Desert
Cove, Phoenix, Arizona 85029. For information on CBD Emporium,
visit http://www.cbdemporium.com.
CBD Emporium has also expanded its business to
include franchise opportunities to entrepreneurs. For
more information on this franchising opportunity, and to request an
information packet including an application,
visit http://franchise.cbdemporium.com.
For further information:
Brian MeadowsChief Financial Officer, PureK Holdings Corp.Ph:
+1 (855) 553-7441Email: ir@purekana.com
Daniel NussbaumMedia and Investor RelationsPh: +1 (917)
232-8960Email: Daniel@amwpr.com
Andrew YoungVice President, Vendor RelationsPh. +1 (602)
773–6683Email: andrew@cbdemporium.com
Forward-Looking Information
Certain statements contained in this news
release constitute "forward-looking information" and
"forward-looking statements" as such terms are used in applicable
Canadian securities laws. Forward-looking statements and
information are based on plans, expectations and estimates of
management at the date the information is provided and are subject
to certain factors and assumptions, including, that the Company’s
financial condition and development plans do not change as a result
of unforeseen events and that the Company obtains regulatory
approval. PKAN’s obligation to close will be subject to TSX Venture
Exchange approval and standard closing conditions for transactions
of this nature, including, among other things, (i) accuracy of
representations and warranties and compliance with covenants and
obligations, (ii) no material adverse effect, (iii) the absence of
litigation, restraining orders, injunctions or other legal
restraints and (iv) receipt of required regulatory and third party
consents, legal opinions, officers' and secretary's certificates,
(v) signing of employment agreements, or approval of existing
employment agreements with key individuals as determined by
Purchasers (which employment agreements will include
non-competition and non-solicitation restrictions, among other
provisions), (vi) other customary closing documentation and
conditions. Forward-looking statements and information are subject
to a variety of risks and uncertainties and other factors that
could cause plans, estimates and actual results to vary materially
from those projected in such forward-looking statements and
information. Factors that could cause the forward-looking
statements and information in this news release to change or to be
inaccurate include, but are not limited to, the risk that any of
the assumptions referred to prove not to be valid or reliable, that
occurrences such as those referred to above are realized and result
in delays, or cessation in planned work, that the Company’s
financial condition and development plans change, and delays in
regulatory approval, as well as the other risks and uncertainties
applicable to the CBD industry and to the Company, as set forth in
the Company’s Filing Statement in respect of its qualifying
transaction filed under the Company’s profile at www.sedar.com. The
Company undertakes no obligation to update the forward-looking
statements and information, other than as required by applicable
law.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this press release.
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