NEW YORK, Jan. 06, 2020 (GLOBE NEWSWIRE) -- PotBotics Inc o/a RYAH. (“RYAH” or the “Company”), in conjunction with its previously announced reverse take-over transaction (“RTO”) with Prime Blockchain Inc (“Prime”), announced today that the Company has submitted an initial listing statement (the “Listing Statement”) supporting its application for listing on the Canadian Securities Exchange (“CSE”). The Listing Statement submission will initiate a consulting phase by the CSE with the Company in preparation for subsequent listing (the “Listing”) of the subordinate voting shares (“Subordinate Voting Shares”) in the capital of the resulting issuer from the RTO on the CSE, subject to satisfying all of the initial listing requirements of the CSE. While there can be no guarantee the Subordinate Voting Shares will be successfully listed on the CSE, the Company and Prime work towards execution of definitive documents and closing with respect to the RTO.
On June 27, 2019, Prime Blockchain Inc. announced that it had entered into a binding letter of intent (“LOI”) with the Company, proposing the terms by which Prime and the Company would effect a business combination that would result in a reverse take-over of Prime by the Company. The subsequent filing of the listing statement on January 03, 2020 is in accordance with the LOI executed between the two parties.
“The much anticipated submission of our listing statement represents a significant milestone for RYAH and its planned business combination with Prime. We’re grateful for the support that we’ve received throughout the process, and we’re excited to move towards our goal as a public company within a venue that attracts growth capital from investors, enabling RYAH to continue towards its goal of being a leader in clinical and healthcare data analytics,” says Gregory Wagner, CEO of RYAH Medtech, Inc. and PotBotics Inc.
About RYAH Medtech, Inc.
PotBotics Inc, through its wholly owned subsidiary RYAH Medtech Inc. (‘RYAH’) is a big data and technology company focused on valuable predictive analysis in the global medical plant intake industry. Its robust artificial intelligence platform aggregates and correlates HIPAA-compliant patient data, which is intended to help doctors and patients personalize plant-based treatments to better predict treatment outcomes. The data collection is relevant for clinics, doctors, dispensaries and pharmaceutical companies and Licensed Processors (LPs) to monitor and manage plant strain effects on patients. With a strong IP portfolio, RYAH gathers deep and insightful data on the complete medical plant lifecycle, from seed to consumption.
Forward-Looking Statements
Certain statements contained in this press release constitute “forward-looking information” as such term is defined in applicable Canadian securities legislation. The words “may”, “would”, “could”, “should”, “potential”, “will”, “seek”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions as they relate to the Company are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Company’s current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. These factors include, without limitation: the general business and economic conditions in the regions in which the Company operates; the ability of the Company to execute on key priorities, including the successful completion of acquisitions, business retention, and strategic plans and to attract, develop and retain key executives; difficulty integrating newly acquired businesses; the benefits of RYAH’s user-generated, HIPAA-compliant data; the success of its launch in Europe; RYAH’s plan to roll-out several other clinical delivery mechanisms; the results users may receive from using RYAH products; the ability to implement business strategies and pursue business opportunities; disruptions in or attacks (including cyber-attacks) on the Company’s information technology, internet, network access or other voice or data communications systems or services; the evolution of various types of fraud or other criminal behavior to which the Company is exposed; the failure of third parties to comply with their obligations to the Company or its affiliates; the impact of new and changes to, or application of, current laws and regulations; legal and regulatory risks inherent in the cannabis industry; risks relating to the regulatory landscape in certain countries and enforcement related to cannabis, including political risks; risks relating to anti-money laundering laws and regulation; other governmental and environmental regulation; public opinion and perception of the cannabis industry; risks related to proprietary intellectual property and potential infringement by third parties; risks inherent in an agricultural business; risks associated to cannabis products manufactured for human consumption including potential product recalls; a novel business model; granting of permits and licenses in a highly regulated business; the overall difficult litigation environment, including in the United States; increased competition; changes in foreign currency rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the availability of funds and resources to pursue operations; critical accounting estimates and changes to accounting standards, policies, and methods used by the Company; the occurrence of natural and unnatural catastrophic events and claims resulting from such events; and the risk associated with a business in the cannabis industry. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
For further information, please contact:
Sofiya Kleshchuk
Client Relations
+1 917 210 0543