VANCOUVER, British Columbia, Jan. 19, 2021 (GLOBE NEWSWIRE) — PureK Holdings Corp. (the “Company,” or “PureK”) (TSX Venture: PKAN), along with its majority-owned CBD subsidiary company, PureKana LLC, (“PureKana”), is pleased to announce that its leading all-natural CBD brand, PureKana, will be distributed both online and in stores at CBD Emporium, an upscale retail specialty CBD chain with 25 locations throughout the United States.
PureKana’s industry-leading portfolio, including its flavored pure hemp-derived CBD oils, sleep aids, immunity boosts, vegan CBD-infused gummies, soothing CBD-infused topical creams, and always perfectly dosed CBD capsules, among others, will be stocked at all CBD Emporium locations and on the company’s website, at www.cbdemporium.com. Customers can consult with CBD Emporium’s experienced and knowledgeable sales associates to find the right solutions that fit their wellness needs.
“CBD Emporium and PureKana share a core value of educating consumers about the benefits of plant-based wellness,” said Kathy Casey, CEO of PureK. “Their highly trained retail sales associates enable customers to make an informed decision in an often-confusing CBD category. As a top 10 brand in the category, we are thrilled to have our brand connected to this premium retail shopping experience.”
“Since its inception, PureKana has provided the highest quality hemp CBD products on the market,” said Andrew Young, Vice President of Product Management and Vendor Relations at CBD Emporium. “Their dedication to quality and purity has helped pioneer high-quality hemp CBD-based products in the marketplace. Their wide variety of products in various forms and flavors will allow CBD Emporium clients to find just the product that is right for them. By adding PureKana to the CBD Emporium family we feel confident together we will continue to be able to provide the best information and education and to assist our clients to live a better life and improve their health and wellness through CBD.”
“Our customers want PureKana products in our stores, and it’s a true privilege for CBD Emporium to play a role with their growing company,” said John Flanders, CEO of CBD Emporium.
Customers can find the CBD Emporium location closest to them by visiting the Store Locator on the company’s website, at www.cbdemporium.com/pages/our-locations.
For more information about PureKana’s industry-leading CBD portfolio, please visit www.purekana.com.
Adoption of Equity Incentive Plan and Grant of RSUs
PureK today announces that the Board of Directors of the Company (the “Board”) has adopted an equity incentive plan (the “Plan”) for the purpose of providing a share-related mechanism to attract, retain and motivate qualified directors, employees and consultants of the Company and its subsidiaries.
Under the new Plan, restricted share units (“RSUs“) and deferred share units (“DSUs“) may be granted to directors, employees and consultants of the Company. The Plan permits the Company to either redeem RSUs for cash, issue common shares of the Company from treasury, or purchase common shares of the Company on the open market, to satisfy all or any portion of a vested RSU award. The Plan permits the Company to either redeem DSUs for cash or issue common shares of the Company from treasury, to satisfy all or any portion of a vested DSU award. Grants of RSUs and DSUs vest as to 1/3 on each of the first, second and third anniversaries of the date of grant, unless otherwise set by the Board or plan administrator. The maximum aggregate number of common shares that may be issued under the Plan pursuant to the exercise or vesting of awards, as applicable, shall not exceed 700,562 common shares.
The Plan is subject to the approval of the TSX Venture Exchange and the disinterested shareholders of the Company. Further details regarding the Plan will be set out in the management information circular of the Company for the Company’s next annual general and special meeting of shareholders.
The Company has granted an aggregate of 130,000 RSUs to a consultant of the Company, which shall vest upon the Plan receiving disinterested shareholder approval.
About PureK Holdings Corp.
PureK Holdings Corp. indirectly owns a 50.1% equity interest in PureKana. PureKana is recognized as a Top 10 cannabidiol (“CBD“) brand in the United States and has operated a profitable direct-to-consumer online business since its inception in 2017. Its product lineup includes high quality CBD that can be consumed in the form of tinctures, capsules, topicals, patches, and gummies. PureKana’s brand and direct-to-consumer marketing expertise has helped to establish PureKana as one of the leading online CBD brands in the United States. The online presence is now being expanded into broader retail outlets, as well as into additional countries. PureKana operates legally in the jurisdictions where it carries on business. PureKana’s website is: https://purekana.com/investor-relations/
About CBD Emporium
Established in 2018, CBD Emporium is a privately held company with 25 retail locations throughout the United States. The retailer is the premier source for quality, trusted CBD products and offers a diverse selection of more than 50 best-of-industry brands and its own brand labeled products, derived from medical-grade organic hemp plants. The company’s knowledgeable staff provides the best information, education, and products to improve health and wellness. CBD Emporium headquarters are located at 2424 W. Desert Cove, Phoenix, Arizona 85029. For information on CBD Emporium, visit http://www.cbdemporium.com.
CBD Emporium has also expanded its business to include franchise opportunities to entrepreneurs. For more information on this franchising opportunity, and to request an information packet including an application, visit http://franchise.cbdemporium.com.
For further information:
Chief Financial Officer, PureK Holdings Corp.
Ph: +1 (855) 553-7441
Media and Investor Relations
Ph: +1 (917) 232-8960
Vice President, Vendor Relations
Ph. +1 (602) 773–6683
Certain statements contained in this news release constitute “forward-looking information” and “forward-looking statements” as such terms are used in applicable Canadian securities laws. Forward-looking statements and information are based on plans, expectations and estimates of management at the date the information is provided and are subject to certain factors and assumptions, including, that the Company’s financial condition and development plans do not change as a result of unforeseen events and that the Company obtains regulatory approval. PKAN’s obligation to close will be subject to TSX Venture Exchange approval and standard closing conditions for transactions of this nature, including, among other things, (i) accuracy of representations and warranties and compliance with covenants and obligations, (ii) no material adverse effect, (iii) the absence of litigation, restraining orders, injunctions or other legal restraints and (iv) receipt of required regulatory and third party consents, legal opinions, officers’ and secretary’s certificates, (v) signing of employment agreements, or approval of existing employment agreements with key individuals as determined by Purchasers (which employment agreements will include non-competition and non-solicitation restrictions, among other provisions), (vi) other customary closing documentation and conditions. Forward-looking statements and information are subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking statements and information. Factors that could cause the forward-looking statements and information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company’s financial condition and development plans change, and delays in regulatory approval, as well as the other risks and uncertainties applicable to the CBD industry and to the Company, as set forth in the Company’s Filing Statement in respect of its qualifying transaction filed under the Company’s profile at www.sedar.com. The Company undertakes no obligation to update the forward-looking statements and information, other than as required by applicable law.
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 press release.