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Lakeside Announces 2017 Annual and Special Meeting Results

/EINPresswire.com/ -- TORONTO, ONTARIO--(Marketwired - Jul 21, 2017) - Lakeside Minerals Inc., now Lineage Grow Company Ltd. (the "Company" or "Lineage") wishes to announce that at the July 19th, 2017 Annual and Special Meeting ("AGM") in Toronto, shareholders voted in favour of all items of business.

Results of 2017 Annual and Special Meeting

The following six (6) persons were nominated for election and elected as directors of the Company with the following percentages:

Name of Nominee Percentage
Peter Bilodeau 99%
Aurelio Useche 99%
Hamish Sutherland 99%
Robert Schwartz 99%
David Posner 99%
David Drutz 99%

At the AGM, shareholders also approved the following resolutions:

  • Corporate name changes to "Lineage Grow Company Ltd." to better reflect its existing business;
  • Reappointment of UHY McGovern Hurley LLP as the Company's auditors for the ensuing year and fixing their remuneration;
  • Ratification, confirmation and approval of the Company's 10% rolling stock option plan.

Business and Listing Update

The Company continues to work towards finalizing the definitive agreements with Nutritional High International Inc. (please see the Company's press releases dated February 28, 2017 and July 4, 2017), and is expecting to finalize the documents and close the Proposed Transaction in due course. The senior management teams of Lineage and Nutritional High have been working to finalize the permitting for both Pueblo, CO and Henderson, NV before deploying capital to build-out the cultivation facilities. Lineage has also been in discussions with various potential partners to augment its intellectual property portfolio and expects to provide updates as the arrangements are finalized.

Lineage continues to work toward finalizing the listing statement to the Canadian Securities Exchange ("CSE") to qualify the listing of the Company's common shares on the CSE. There is no assurance the CSE will provide conditional or final approval of the Company's application to list the Common Shares on the CSE. The CSE's final approvals remain subject to the Company fulfilling all of the requirements of the CSE.

About Lineage Grow Company Ltd.

Lineage Grow Company Ltd. is a reporting issuer that is seeking listing on the Canadian Securities Exchange ("CSE"). Lineage is focused on establishing state-of-the-art cultivation facilities and a view towards developing a dominant brand of premium quality craft cannabis. Lineage is seeking to deploy advanced cultivation techniques and best-of-breed genetics to develop a brand of craft cannabis known for emphasizing the unique flavors, smells, and potencies of each individual strain. By leveraging cutting edge agricultural and technological solutions, Lineage intends to optimize the variable costs associated with cannabis cultivation and successfully produce craft cannabis at an commercially viable industrial scale.

NEITHER THE TSX VENTURE EXCHANGE, OR THE CANADIAN SECURITIES EXCHANGE NOR THEIR REGULATION SERVICES PROVIDERS (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include the ability of the Company to de-list its common shares from the TSXV and otherwise to successfully operate its business in the cannabis industry. There is no certainty that any of these events will occur. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.

Company's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulation S under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.

Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by applicable securities laws.

David Drutz
CEO
Lakeside Minerals Inc.
(416) 479-4142
ddrutz@lineagegrow.com