Wikileaf Technologies will change its name to Cashbox Ventures
VANCOUVER, British Columbia, October 28, 2021 (GLOBE NEWSWIRE) – Wikileaf Technologies Inc. (the “Society“) (CSE: WIKI) is pleased to announce its name change from” Wikileaf Technologies Inc. “to” Cashbox Ventures Ltd. “(the”Name change“). The Company expects that the name change and a change in its ticker symbol will take place on November 3, 2021. The Company’s common shares will continue to trade on the Canadian Securities Exchange under its new ticker symbol, CBOX, as of the market opens on November 3, 2021. The company’s new CUSIP is 14756M108 and its new ISIN is CA14756M1086.
Completion of the name change is subject to receipt of all required regulatory approvals. In accordance with the provisions of Business Corporations Act (British Columbia) and the Articles of the Company, shareholder approval for the name change is not required and, therefore, the Company is not seeking shareholder approval for the name change. Shareholders of the Company are not required to exchange their existing share certificates for new certificates bearing the new name of the Company. The Name Change does not affect the shareholding structure of the Company or the rights of the shareholders of the Company, and no further action is required from the existing shareholders.
In addition to the name change, the Company is pleased to announce that on October 28, 2021 (the âClosing Date“), he entered into a guaranteed promissory note (the”To note“) with MMCAP International Inc. SPC (“MMCAP“) for a loan of $ 700,000 (the”To lend“). The Note specifies, among other things, that the Loan is repayable within six months from the date on which it was granted, and that the Loan will be subject to an interest rate of 7% per annum until full repayment. and final of the Loan.
In consideration for the provision of the note, the Company issued to MMCAP 1,500,000 warrants to purchase common shares of the Company (the âBonus coupons“). Each warrant may be exercised for one common share of the Company at an exercise price of $ 0.06 for a period of three years from the date of issue. Bonus Warrants will be subject to a four month hold in accordance with applicable Canadian securities laws.
The note and the issuance of the warrants each constituted a ârelated party transactionâ under Multilateral Instrument 61-101 – Protection of holders of minority securities in special transactions (“MI 61-101“) because MMCAP is a related party (as defined in MI 61-101) of the Company. The Company relied on the exemptions from the formal assessment and minority shareholder approval requirements of MI 61-101 contained in sections 5.5 (a) and 5.7 (1) (a) of MI 61-101 regarding related party matters, as the Company is listed on the CSE and neither is fair market value (as determined in under MI 61-101) of the object of, nor the fair market value of the consideration of the transaction, insofar as it involves related parties, exceeded 25% of the market capitalization of the Company (as determined under NI 61-101).
About Wikileaf Technologies Inc. (to be renamed Cashbox Ventures Ltd.)
The company recently divested all of its online platform assets. The business activities of the Company should include research and evaluation of new investment opportunities as well as the examination of other strategic alternatives.
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This press release contains forward-looking statements relating to product development, plans, strategies and other statements that are not historical facts. Forward-looking statements are often identified by words such as “will”, “may”, “should”, “anticipate”, “expect” and similar expressions. All statements other than statements of historical fact included in this press release are forward-looking statements that involve risks and uncertainties. The forward-looking information contained in this press release includes, without limitation, statements regarding the rating and the name change. There can be no assurance that such statements will prove to be accurate and that actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include failure to comply with the conditions of the relevant stock exchange (s) and other risks detailed from time to time in documents filed by the Company. Company with securities regulations. The reader is cautioned that the assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those expected, due to many known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on forward-looking information. This information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release and the Company will publicly update or revise all included forward-looking statements as expressly required by applicable law.