TORONTO, May 27, 2019 (GLOBE NEWSWIRE) -- AIM3 Ventures Inc. (TSXV:AIMC.P) ("AIM3") and Southern Sun Pharma Inc., (“Southern Sun” or the “Company”), a leading Africa-focused cannabis company, welcome inaugural legislation in South Africa, resulting in the first federally approved market for non-prescription CBD in Africa. Following a change to South Africa’s Medicines and Related Substances Act last week, South Africa became the first country in Africa to legalise cannabidiol use.
Southern Sun CEO Warren Schewitz stated, “We are delighted to receive this positive development in the medical Cannabis legalization process in South Africa. This is a landmark piece of legislation, enabling wide scale access to CBD products. As a pioneer in the African cannabis sector, Southern Sun Pharma has been preparing for advancements such as these for some time. We will imminently be in a position to share our progress relating to the supply of premium CBD products from local and international sources.”
About AIM3 Ventures
AIM3 was incorporated under the Business Corporations Act (Ontario) and is a Capital Pool Company (as defined in the policies of the TSXV) listed on the TSXV. AIM3 has no commercial operations and no assets other than cash.
About Southern Sun
Southern Sun Pharma, a Canadian registered company, is a multi-licence holder with a dedicated focus on Africa. The company was formed by experienced entrepreneurs with a proven track record of building significant shareholder value both in Africa and North America. Southern Sun is focussing on significantly lower cost production opportunities in Africa to support its plan to distribute and supply both the local cannabis market and export markets with a focus on countries in near proximity to its headquarters in South Africa.
Cautionary Note Regarding Forward-Looking Information
This press release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of AIM3 and Southern Sun with respect to future business activities and operating performance. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions (i) the business plans and expectations of the Company including; and (ii) expectations for other economic, business, and/or competitive factors.
Investors are cautioned that forward-looking information is not based on historical facts but instead reflect AIM3 and Southern Sun's respective management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although AIM3 and the Company believe that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of AIM3 or the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: changes in general economic, business and political conditions, including changes in the financial markets; changes in the perception and demand for cannabis in both local and export markets; changes in applicable laws and regulations both locally and in foreign jurisdictions; compliance with extensive government regulation and the costs associated with compliance; costs of building and developing projects and product opportunities; and the risks and uncertainties associated with foreign markets. This forward-looking information may be affected by risks and uncertainties in the business of AIM3 and the Company and market conditions.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although AIM3 and the Company have attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. AIM3 and the Company do not intend, and do not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCE AIM3 Ventures Inc.
For further information: please contact:
AIM3 Ventures Inc.
Zachary Goldenberg, Chief Executive Officer
E-mail: zach@libertyvp.co
Phone: 647-987-5083
Southern Sun Pharma Inc.
Warren Schewitz
E-mail: warren@southernsunpharma.com
Phone (+27) 82 040 7274