Alchemist Mining Inc’s (CSE:AMS) evolution into a provider of technology solutions to the cannabis sector moved a step closer on Thursday after it received conditional approval from the Canadian Securities Exchange for its change of business.
In a statement, the company said the CSE has conditional approved its name change to Alchemist Holdings Inc.; a change of its trading symbol to ‘ALH’; a 4:1 consolidation of the company's common shares; and the acquisition of the Oddysee Software Platform from Green Rush Consulting LLC, which was announced on March 20, 2019.
Paul Mann, president and CEO of Alchemist commented: “This is the first of several milestones in our road map and business strategy, as we evolve into becoming a global leader in the provision of technology and services to the legal US cannabis sector.”
On completion of the change of business, expected to take place as soon as its annual financial statements and related certifications are filed, the company said it will file a listing statement on SEDAR and also on the CSE’s website that will provide detailed disclosure respecting the company’s new business and related risk factors.
Alchemist’s goal is to be a global provider of technology solutions to the cannabis sector, primarily focused on investing and building a sustainable portfolio of business entities, by actively identifying opportunities through a combination of acquisitions, incubations and investments.
Trading in Alchemist Mining stock was halted at 4:56 am PT on September 5, 2019, by a cease-trade order ahead of the news.
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