February 1, 2019
Vancouver, BC, February 1, 2019 – Cannex Capital Holdings Inc. (CSE: CNNX; OTCQX: CNXXF) (“Cannex” or the “Company”), is pleased to announce it has retained Hybrid Financial Ltd. (“Hybrid”) to provide marketing and branding distribution services to the Company.
“We are looking forward to working closely with Hybrid as we expand market awareness and raise Cannex’s profile in the North American investment community,” said Anthony Dutton, CEO of Cannex. “We believe this is an excellent time to increase our investor awareness efforts and to expand on the benefits of our proposed transaction with 4Front as disclosed late last year.”
The agreement between the Company and Hybrid consists of a monthly retainer of $14,000 for an initial six-month period, and an option grant of 200,000 options with a $1.00 exercise price expiring February 2024. The options granted to Hybrid are subject to the approval of the Canadian Securities Exchange (the “CSE”).
As described in the Company’s November 26, 2018, news release, Cannex and 4Front have signed a binding letter agreement (the “Interim Agreement”) pursuant to which 4Front has agreed to combine with Cannex in an all‐stock transaction (the “Transaction”). Subject to the approval of the CSE, the combined company will continue to trade on the exchange initially under Cannex’s existing name and the ticker symbol CNNX. The Interim Agreement will be superseded by a definitive agreement (the “Definitive Agreement”) governing the Transaction.
Closing of the Transaction will remain subject to Cannex shareholder approval, court approval(s), the CSE, as well as any other approvals that are customary for a transaction of this nature. There can be no assurances that the Transaction will be completed as proposed or at all. Further information will also be available by way of an information circular to be prepared by Cannex and mailed to shareholders.