CALGARY, Jan. 24, 2019 /CNW/ - Target Capital Inc.
d.b.a. CBi2 Capital ("CBi2")
(TSXV/CSE: TCI) announces that it has agreed with 51st Parallel
Inc. ("51st Parallel") to terminate the previously announced
arrangement agreement, which was to result in the creation of
LivWell International Corp. through a business combination
involving CBi2 and 51st Parallel.
CBi2 will continue to explore and evaluate strategic
alternatives to enhance shareholder value. CBi2
currently has 106.7 million common shares outstanding and 59.2
million common share purchase warrants with an exercise price of
$0.10. CBi2's current
cash balance is approximately $2.9
million with an estimated non-cash working capital balance
of approximately $190,000 and holds
$275,000 in liquid cannabis
investments. CBi2 also generated approximately
$650,000 in revenue in the 2018 from
advisory fees.
About CBi2 Capital
Target Capital Inc. d.b.a. CBi2 Capital, is a
Calgary, Alberta based company
executing on a cannabis-focused investment strategy, where it
intends to develop and manage a diversified portfolio of
predominantly early stage cannabis investment opportunities.
CBi2's common shares are listed on the TSX Venture
Exchange and the Canadian Securities Exchange under the trading
symbol "TCI".
Forward-Looking and Cautionary Statements
This news release may include forward-looking statements
including CBi2's objectives, opinions and assumptions.
When used in this document, the words "will," "anticipate,"
"believe," "estimate," "expect," "intent," "may," "project,"
"should," and similar expressions are intended to be among the
statements that identify forward-looking statements.
The forward-looking statements are founded on the basis of
expectations and assumptions made by CBi2.
Forward-looking statements are subject to a wide range of risks and
uncertainties, and although CBi2 believes that the
expectations represented by such forward-looking statements are
reasonable, there can be no assurance that such expectations will
be realized.
Any number of important factors could cause actual results to
differ materially from those in the forward -looking statements
including, but not limited to: regulatory and third party approvals
not being obtained in the manner or timing anticipated; the ability
to implement corporate strategies; the state of domestic capital
markets; the ability to obtain financing; changes in general market
conditions; industry conditions and events; the size of the medical
marijuana market and the recreational marijuana market; government
regulations, including future legislative and regulatory
developments involving medical and recreational marijuana;
competition from other industry participants; and other factors
more fully described from time to time in the reports and filings
made by CBi2 with securities regulatory authorities.
Except as required by applicable laws, CBi2 does not
undertake any obligation to publicly update or revise any
forward-looking statements.
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 news release.
SOURCE CBi2 Capital