RYAH has made a major step towards the completion of its reverse takeover of Prime Blockchain Inc and its listing on the Canadian Stock Exchange after getting strong support for the deal from Prime shareholders at recent meetings.
In a statement, Prime Blockchain said that at the meetings held on August 19, 2019, in Verdun, Quebec, 15,255,280 ballots were cast in person or by proxy representing 77.81% of the total number of shares issued and outstanding of the company in favour of the transaction.
The resolution for the election of Potbiotics/RYAH directors to the Prime board got even greater backing, with all the names – including RYAH CEO Greg Wagner - receiving 99.9% approval.
At the end of June, the two privately-owned companies signed a binding letter of intent under which Prime Blockchain will acquire the outstanding securities of Potbiotics, RYAH’s parent company.
The Quebec-based company plans to change its name to RYAH as well as replacing its directors with RYAH’s nominees...
Potbiotics, which operates as RYAH, is a New York-based company that brings big data to dry herb medicine. Its RYAH MediTech business produces a signature vaporizer that can precisely track dose and temperature and pairs with an app that uses artificial intelligence to help patients identify what treatments work best for them.
Prime and RYAH are jointly preparing a listing statement so their shares can apply for listing on the CSE, and the firms said that as this file advances RYAH and Prime will issue news releases outlining the progress.
Contact the author at jon.hopkins@proactiveinvestors.com
