CBi2 Capital Reports Quarter-Ended September 30, 2019 Financial Results, Provides Update on Investment in Intev Technologies...
29 11월 2019 - 7:04AM
(TSXV/CSE:TCI) Target Capital Inc. d.b.a. CBi2 Capital
(“
CBi2” or the “
Company”) is
pleased to provide a summary of its financial results for the
financial quarter ended September 30, 2019.
Selected financial information is outlined below
and should be read in conjunction with the Company’s audited
consolidated financial statements and management’s discussion and
analysis for the financial quarter ended September 30, 2019, which
are available on SEDAR at www.sedar.com and the
Company’s website at www.cbi2.com.
Financial Highlights
The following table summarizes key financial
highlights associated with the Company’s financial performance.
|
September 30, 2019 $000s |
|
September 30, 2018 $000s |
Revenues |
332 |
|
238 |
Expenses |
598 |
|
676 |
Net Loss |
266 |
|
438 |
Total Assets |
3,197 |
|
3,878 |
Total Liabilities |
181 |
|
86 |
Total Shareholders’ Equity |
3,016 |
|
3,792 |
Update on Investment in Intev
Technologies, LLC.
Intev Technologies LLC is advancing the
commercialization of their debut consumer product, the Zepto
product line, and the initial public launch is anticipated in the
coming months. The Zepto vaporizer is a patented, luxury,
sleek personal vaporizer device and pod system. It boasts
ground breaking features, including wireless recharging and smart
button technology, giving the user superior control of the device.
Its modular design is adaptable for use with other manufacturers'
e-liquid pods, establishing it as an industry leader in market
adoption, resiliency, portability and consumer convenience. Learn
more at www.zeptovape.com.
Approval of Incentive Stock Option Plan
and Grant of Options
On November 27, 2019 the Board of Directors of
the Company approved an Incentive Stock Option Plan (the
“Plan”). The Plan is intended to assist in
retaining and engaging the directors, officers and any future
employees of the Company and to provide additional incentive to
these individuals for their efforts on behalf of the Company.
The Plan allows the Company to issue total stock options of up to
10% of the issued and outstanding common shares of the Company, on
a non-diluted basis. The Plan has been conditionally approved
by the TSX Venture Exchange, subject to the formal approval of the
Plan by the shareholders of the Company at the next annual general
meeting.
In conjunction with this approval, effective
November 27, 2019 the Company issued a total of 5,500,000 options
to officers and directors of the Company with an exercise price of
$0.05. These options are fully vested and expire on November
27, 2024. This grant is subject to final regulatory and shareholder
approval.
About CBi2
Capital
Target Capital Inc. d.b.a. CBi2 Capital, is a
Calgary, Alberta based company executing on a cannabis focused
investment strategy, where it intends to develop and manage a
diversified portfolio of predominantly early stage cannabis
investment opportunities. The Company’s common shares are listed on
the TSX Venture Exchange and the Canadian Securities Exchange under
the trading symbol “TCI”.
For additional information please contact:
Sonny MottahedPresident and Chief Executive
Officer
Phone: 403.351.1779Email: info@cbi2.com
Forward-Looking and Cautionary
Statements
This news release may include forward-looking
statements including the Company’s objectives, opinions and
assumptions. When used in this document, the words “will,”
“anticipate,” “believe,” “estimate,” “expect,” “intent,” “may,”
“project,” “should,” and similar expressions are intended to be
among the statements that identify forward-looking statements.
Statements relating to Intev's brands, products, business,
strategies, expectations, planned operations or future actions,
including a go-public transaction involving Intev, the performance
of Intev's business and operations, the competitive conditions of
the industry in which Intev operates and the competitive advantages
of Intev and Intev's future product offerings are deemed to be
forward-looking statements.
The forward-looking statements are founded on
the basis of expectations and assumptions made by the Company,
including expectations and assumptions concerning Intev.
Forward-looking statements are subject to a wide range of risks and
uncertainties, and although the Company believes that the
expectations represented by such forward-looking statements are
reasonable, there can be no assurance that such expectations will
be realized.
Any number of important factors could cause
actual results to differ materially from those in the
forward-looking statements. Without limitation, these risks
and uncertainties include: the parties being unable to obtain the
required stock exchange and regulatory approvals; the possibility
that licenses to use certain brands or trademarks will be
terminated, challenged or restricted; failure to maintain consumer
brand recognition and loyalty of customers; substantial and
increasing U.S. and Canadian regulation and uncertainty related to
the regulation and taxation of vaporizer products; reliance on
relationships with wholesalers and retailers for distribution of
products and failure to maintain strategic business relationships,
including brand partnerships; intense competition, including from
illicit sources; uncertainty and continued evolution of markets;
product liability litigation; the scientific community's lack of
information regarding the long-term health effects of electronic
cigarettes, vaporizers and e-liquids; reliance on information
technology; infringement on intellectual property; failure to
benefit from partnerships or successfully integrate acquisitions;
exchange rate fluctuations; adverse U.S., Canadian and global
economic conditions; sensitivity of end-customers to increased
sales taxes and economic conditions; failure to comply with certain
regulations; departure of key management personnel or inability to
attract and retain talent; risks associated with the e-cigarette,
vaporizer and e-liquid industry in general; actions and initiatives
of federal, state and provincial governments and changes to
government actions, initiatives and policies and the execution and
impact thereof; import/export and research restriction; and the
size of the global e-cigarette and vaping market.
Except as required by applicable laws, the
Company does not undertake any obligation to publicly update or
revise any forward-looking statements.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this news release.
Target Capital (TSXV:TCI)
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부터 12월(12) 2024 으로 1월(1) 2025
Target Capital (TSXV:TCI)
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부터 1월(1) 2024 으로 1월(1) 2025