PLPRF - CannabisNewsBreaks - Plus Products Inc. (CSE: PLUS) (OTCQX: PLPRF) Announces Completion of Non-Dilutive Share Exchange Transaction Share Structure Update
Plus Products (CSE: PLUS) (OTCQX: PLPRF), a cannabis and hemp branded products company in the U.S., today announced the completion of a non-dilutive share exchange transaction (the “Transaction”), under which an existing Company shareholder exchanged 75,500 Common Shares for 15,100,000 newly created Class B Common Shares (the “Class B Subordinate Voting Shares”), on the basis of 200 Class B Subordinate Voting Shares for each Common Share. Per the update, the aggregate value of the exchanged Common Shares (CAD$0.7405 per share, representing an aggregate value of CAD$55,907.75) was equivalent to the aggregate value of the newly issued Class B Subordinate Voting Shares (CAD$0.0037025 per share, representing an aggregate value of CAD$55,907.75). In aggregate, the 15,100,000 Class B Subordinate Voting Shares represent the same economic and voting rights as the 75,500 Common Shares for which they were exchanged. The Transaction will not adversely impact the economic or voting rights of current holders of Common Shares.
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About PLUS
PLUS is a cannabis and hemp branded products company focused on using nature to bring balance to consumers’ lives. PLUS’s mission is to make cannabis safe and approachable – that begins with high-quality products that deliver consistent consumer experiences. PLUS is headquartered in San Mateo, CA. For more information, visit the Company’s website at www.PlusProducts.com.
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