Toronto, Ontario–(Newsfile Corp. – June 2, 2021) – The Hash Corporation (CSE: REZN) (“Hashco” or the “Company“) is pleased to announce that it has received final approval from the Canadian Securities Exchange (the “CSE“) to list the Company’s common shares (“Common Shares“) for trading on the CSE. The Common Shares will commence trading at the opening of the market on June 3, 2021 under the stock ticker “REZN” (the “CSE Listing“).
Following the CSE Listing, Hashco intends on focusing on the production of hashish and other premium cannabis products. Using the adaption of old-world traditions, the Company aims to safely deliver authentic hashish experiences crafted to modern standards and regulations. Additional information regarding the business of the Company can be found in the Company’s CSE Form 2A Listing Statement, which has been filed on SEDAR and the Company’s profile on the CSE’s website. In addition, an investor presentation providing an overview of the Company will be made available on the Company’s website at www.hashco.ca.
Adopts Restricted Share Unit Plan
In order to further align the interests of the Company’s senior executives, key employees, consultants and directors with those of the shareholders of the Company, the board of directors (the “Board“) has approved the implementation of a restricted share unit plan (the “RSU Plan“). Under the RSU Plan, eligible persons may (at the discretion of the Board) be allocated a number of restricted share units (“RSU“) as the Board deems appropriate, with vesting provisions also to be determined by the Board, subject to a maximum vesting term of three (3) years from the end of the calendar year in which RSUs were granted. Upon vesting, eligible participants shall be entitled to receive Common Shares from treasury to satisfy all or any portion of a vested RSU award.
The RSU Plan is a “rolling” plan reserving a maximum of 10% of the issued and outstanding shares of the Company at the time the RSU Plan is approved. The maximum number of RSUs issuable under the RSU Plan is fixed at 28,012,029 (being 10% of the issued and outstanding common shares as of today’s date), provided however that at no time may the number of RSUs issuable under the RSU Plan, together with the number of Common Shares issuable under options that are outstanding under the Company’s stock option plan (“Option Plan“), exceed 10% of the issued and outstanding common shares, calculated on a fully diluted basis, as at the date of a grant under the RSU Plan or the Option Plan, as the case may be.
Further details regarding the RSU Plan and all awards made thereunder will be set out in the management information circular and proxy statement of the Company that will be delivered to shareholders in respect of the Company’s next annual meeting of shareholders.
The Company has granted an aggregate of 5,000,000 RSUs to officers, directors, and consultants of the Company, vesting on June 1, 2022. Each vested RSU entitles the holder to receive one Common Share.
Additionally, the Company has authorized the grant of 13,700,000 stock options, pursuant to the Option Plan, to certain directors, officers and consultants. Each such option entitles the holder thereof to acquire one Common Share for a period of three (3) years, at an exercise price of $0.10 per Common Share.
All securities issued remain subject to compliance with all applicable laws (including the rules and policies of the CSE).
About The Hash Corporation
HashCo is a Canadian company positioning itself to focus on the production and sale of cannabis-based hashish and other cannabis products. HashCo intends to apply its separation and curing techniques to produce a suite of high-quality cannabis resin products, which are all-natural and free of additives and carcinogenic solvents. The Company intends to tailor its product offerings to pay tribute to historic traditions, fragrances and tastes, while upholding the highest health and safety standards.
As of the date of this press release, HashCo is actively seeking and developing partnerships and collaborations with licensed cultivators and other strategic partners within Canada, with the goal of crafting and introducing to the regulated market authentic products which reflect quality and innovation.
For additional information on the Company:
Chief Executive Officer and Director
This news release contains “forward-looking information” within the meaning of applicable securities laws including the listing of the Common Shares on the CSE, the updated investor desk on the Company’s website, and the issuance of stock options and RSUs on the terms and conditions described in this release, as well as information relating to the Company. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the costs of compliance with and the risk of liability imposed under the laws in which the Company is operating or will operate under including environmental and health product regulations; negative changes in the political environment or in the regulation of cannabis and the Company’s business in Canada; negative shifts in public opinion and perception of the cannabis-based hashish industry and cannabis-based hashish consumption; increasing competition in the industry; risks relating to rising energy costs; risks of product liability and other safety-related liability as a result of usage of the products; risk of shortages of or price increases in key inputs, suppliers and skilled labor; loss of intellectual property rights or protections; cybersecurity risks; constraints on marketing products; fraudulent activity by employees, contractors and consultants; tax and insurance related risks and risk of litigation.
The statements in this press release are made as of the date of this release. The Company undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Company or its financial or operating results.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to a U.S. Person (as defined in in Rule 902(k) of Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Not for distribution to United States newswire services or for dissemination in the United States.
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