(TheNewswire)
Vancouver, British Columbia - TheNewswire - March 11, 2022 - Blackhawk Growth Corp. (CSE:BLR )(CNSX:BLR.CN) (OTC:BLRZF) ( Frankfurt:0JJ) (the“ Company ” or “ Blackhawk ”), is pleased to announce that the Company has completed the acquisition of theremaining share capital of Stable Foods Co. (formerly known as NuWaveFoods).
“With the closing of the transaction, Stable Foods isfinally a wholly owned subsidiary of Blackhawk” said Frederick Pels,CEO of Blackhawk Growth Corp. “Stable Foods is expected to be asignificant asset and I look forward to updating shareholders with itsprogress over the coming months.”
The Transaction
Pursuant to the terms of a share purchase agreement,dated February 21, 2022, the Company has acquired the remaining 49%interest of Stable Foods Co. it did not already own and has issued3,200,000 common shares to the existing shareholders of Stable FoodsCo. at a deemed price of $0.41 per share. A 120,000 share finders'fees was paid to an arms-length third-party in connection with closingof the acquisition.
The Company is at arm's length from Stable Foods Co.and its shareholders. The acquisition of the remaining interestneither constitutes a fundamental change nor a change of business forthe Company, nor has it resulted in a change of control of the Companywithin the meaning of applicable securities laws and the policies ofthe Canadian Securities Exchange. In connection with completion of theacquisition, the Company will not be assuming any additional debts orobligations and Stable Foods Co. will continue to operate as awholly-owned subsidiary of the Company.
Stable Foods Co. will continue to form a key part ofthe Company's existing portfolio of investments. Stable Foods Co.’sexisting management team led by Scott Manley will continue to retainresponsibility for overseeing day-to-day operations.
About Stable Foods Co.
Stable Foods Co. is a fully licenced commercial kitchenand baked goods manufacturer located in Edmonton Alberta. Stable FoodsCo. has a process to create a shelf-stable baked product without theuse of any preservatives. This can be applied to virtually any bakedgood. Given the current world climate, demand for products with shelfstability has skyrocketed. Using Stable Foods Co. considerablecontacts in the food industry across North America, Stable Foods Co.is positioned to quickly be a leader in this rapidly growingspace.
About Blackhawk Growth
Blackhawk is an investment holding company looking tocreate substantial value for its shareholders through the acquisitionand development of high growth companies. It has focused itsinvestments in the health, cannabis and cannabidiol industries in both Canada and the United States. Its portfolio ofcompanies includes TERP Wholesale, Sac Pharma, LeichtMind Clinics,Noble Hemp, Spaced Food, Stable Food Co., MindBio Therapeutics,Digital Mind Technology as well as an equity position in Gaia GrowCorp. (CSE:GAIA) .
The company diligently posts updates through videosfrom the official company YouTube channel
Please join the conversation on our Blackhawk groupsupporter’s telegram group at https://t.me/Blackhawkgrowthcorp and visit us online at https://www.blackhawkgrowth.com/
For further information please contact:
Frederick Pels, Chief ExecutiveOfficer
(403)-991-7737
fred@ blackhawkgrowth.com
Cautionary NoteRegarding Forward-Looking Statement
All statements in this pressrelease, other than statements of historical fact, are “forward-looking information”with respect to the Company within the meaning of applicablesecurities laws, including with respect to production and sale of theStable Food Co. products and approval of the products. The Companyprovides forward-looking statements for the purpose of conveyinginformation about current expectations and plans relating to thefuture and readers are cautioned that such statements may not beappropriate for other purposes. By its nature, this information issubject to inherent risks and uncertainties that may be general orspecific and which give rise to the possibility that expectations,forecasts, predictions, projections or conclusions will not prove tobe accurate, that assumptions may not be correct and that objectives,strategic goals and priorities will not be achieved. These risks anduncertainties include but are not limited those identified andreported in the Company’s public filings under the Company’s SEDARprofile at www.sedar.com. Although the Company has attempted toidentify important factors that could cause actual actions, events orresults to differ materially from those described in forward-lookinginformation, there may be other factors that cause actions, events orresults not to be as anticipated, estimated or intended. There can beno assurance that such information will prove to be accurate as actualresults and future events could differ materially from thoseanticipated in such statements. The Company disclaims any intention orobligation to update or revise any forward-looking information,whether as a result of new information, future events or otherwiseunless required by law.
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