VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 5, 2016) - Saber Capital Corp. (TSX VENTURE:SAB.H) ("Saber" or the "Company"), a capital pool company, is pleased to announce that, in connection with its previously announced proposed qualifying transaction (the "Qualifying Transaction") with 9045538 Canada Inc. (formerly Emblem Corp.) ("Emblem"), effective December 5, 2016, the Company changed its name to "Emblem Corp." (the "Name Change") and consolidated its common shares ("Common Shares") on the basis of one (1) post-consolidation Common Share for every four (4) pre-consolidation Common Shares (the "Share Consolidation"). In addition, effective December 5, 2016, the Company has continued (the "Continuance") out of the jurisdiction of the Business Corporation Act (British Columbia) and into the jurisdiction of the Canada Business Corporation Act.
A letter of transmittal will be sent by mail to shareholders advising that the Name Change and the Share Consolidation have taken effect and instructing shareholders to surrender the certificates evidencing their Common Shares for direct registration advice representing the number of Common Shares (post-Share Consolidation, Name Change and Continuance) to which they are entitled. Until surrendered, each certificate representing Common Shares prior to the Share Consolidation will be deemed for all purposes to represent the number of Common Shares to which the holder thereof is entitled as a result of the Share Consolidation.
The Company's Common Shares (post-Share Consolidation, Name Change and Continuance) are expected to begin trading on the TSX Venture Exchange (the "Exchange") under the symbol "EMC" after the Exchange issues its final bulletin in respect the Qualifying Transaction, anticipated to be on or about December 9, 2016.
The Continuance was approved by shareholder of the Company at the annual and special meeting of shareholders held on November 4, 2016 and the Name Change and the Share Consolidation was approved by the board of directors of the Company. Further details regarding the Name Change, the Share Consolidation and the Continuance are contained in the Company's Filing Statement dated November 30, 2016 (the "Filing Statement"), which has been filed on SEDAR at www.sedar.com.
Emblem is licensed under the Access to Cannabis for Medical Purposes Regulations (the "ACMPR") to cultivate and sell medical marihuana. Emblem carries out its principal activities producing marihuana from its facilities in Paris, Ontario pursuant to the provisions of the ACMPR and the Controlled Drugs and Substances Act (Canada) and its regulations.
Saber was incorporated under the Business Corporations Act (British Columbia) and is a Capital Pool Company listed on the NEX board of the Exchange. Saber has no commercial operations and has no assets other than cash.
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The TSX Venture Exchange Inc. has in no way passed upon the merits of the Offering and has neither approved nor disapproved the contents of this press release.
Neither 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 release.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Saber cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Saber's control. Such factors include, among other things: risks and uncertainties relating to Saber's ability to complete the proposed Qualifying Transaction; and other risks and uncertainties, including those described in the Filing Statement filed with the Canadian Securities Administrators and available on www.sedar.com. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Saber undertakes no obligation to publicly update or revise forward-looking information.
Investors are cautioned that, except as disclosed in the Filing Statement, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
A halt in trading shall remain in place until after the Transaction is completed or such time that acceptable documentation is filed with the Exchange.