After the close of trading on the CSE today, Kaneh Bosm BioTechnology Inc. (“Kaneh Bosm” or the “Company”) filed a special resolution and changed its name to Kaneh Bosm BioTechnology
Inc. Effective at the opening of trading on November 5, 2014 the Company’s shares will trade under the new name and under the new symbol “KBB”. Shareholders will be sent a transmittal letter with instructions regarding the surrender of current share certificate in order to obtain new share certificates.
The Company’s final Listing Statement dated November 4, 2014 regarding the fundamental change to the Cannabis industry has been filed on the CSE website.
Rudy de Jonge, of Vancouver, BC, a director and CEO of the Company, has ownership over 10% of the Company’s issued and outstanding common shares.
There are currently 15,559,971 common shares of the Company issued and outstanding. As a result of the methods of calculating post-conversion beneficial ownership, Mr. de Jonge is deemed to have control and direction over an aggregate (both directly and indirectly) 2,604,587 common shares, which includes 350,000 stock options and 605,000 share purchase warrants. Based on the Company’s issued and outstanding and the potential exercise of all stock options and warrants held by Mr. de Jonge, Mr. de Jonge would have control and direction over 15.77% of the Company’s issued and outstanding common shares on an undiluted basis.
The common shares of the Company held by Mr. de Jonge were acquired for investment purposes. Mr. de Jonge currently has no intent to exercise any of the available stock options or share purchase warrants. Additional details of stock options and warrants held may be found in the Early Warning Report filed on www.sedar.com.
