Toronto, Ontario–(Newsfile Corp. – November 12, 2020) – Mukesh (Steve) Singh (the “Acquiror“) announces that he has filed an early warning report (the “Report“) announcing that, on November 11, 2020, he acquired 2,865,000 common shares (the “Acquired Shares“) of Canbud Distribution Corporation (CSE: CBDX) (the “Issuer“). The Acquired Shares were purchased on the open market through the facilities of the Canadian Securities Exchange.
Prior to the acquisition, the Acquiror held 8,400,000 common shares, representing approximately 21.94% of the Issuer’s issued and outstanding common shares on an undiluted basis. Following the acquisition, the Acquiror holds an aggregate of 11,265,000 common shares, representing approximately 29.42% of the Issuer’s issued and outstanding common shares.
The Acquired Shares were acquired for investment purposes. The Acquiror may acquire or dispose of additional securities including on the open market or through private transactions in the future, depending on market conditions, general economic and industry conditions, the Issuer’s business and financial condition and/or other relevant factors.
This press release is being issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bids and Insider Reporting Issues in connection with the filing of the Report by the Acquiror.
For further details relating to the acquisition, please see the Report, a copy of which is available on the Issuer’s profile on SEDAR at www.sedar.com.
For further information, please contact:
Mukesh (Steve) Singh
Chief Executive Officer
Canbud Distribution Corporation
Tel: (647) 889-2470
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/68098