The Hash Corporation (CSE:REZN)

TORONTO, ONTARIO, CANADA, May 31, 2022 /EINPresswire.com/ -- The Hash Corporation (CSE: REZN) (the “Company”) is pleased to announce it intends to complete a non-brokered private placement for aggregate gross proceeds of up to $500,000 (the “Private Placement”), consisting of an offering of convertible debentures (the “Debentures”) for the targeted gross proceeds of $500,000, with each Debenture to be issued in the principal amount of $1,000, bearing interest at a rate of 3%, and maturing on the date that is 12 months from the date of issuance. The principal sum of the Debentures, or any portion thereof, will entitle the holder thereof to acquire one common share in the Company (“Common Share”) at the price of $0.05 per Common Share on conversion.

As additional consideration, the Company has agreed to pay the holders of the Debentures $0.20 per gram in retail sales of their products, as a royalty, until 57% of the principal amount of their Debenture.

All securities issued pursuant to the Private Placement will be subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation.

As certain directors, officers and insiders of the Company may participate in the Private Placement, it may be considered a related party transaction for the purposes of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The participation of the directors, officers and insiders are exempt from the formal valuation and minority shareholder approval requirements provided under MI 61-101 in accordance with sections 5.5(b), 5.5(g) and 5.7(l)(e) of MI 61-101, as the Company is not listed on a specified market and the Company is in financial hardship. The Company will be filing a material change report in respect of the related party transaction on SEDAR less than 21 days prior to the closing of the Private Placement due to the fact that the Company wished to close the Private Placement as soon as practicable, in the best interests of the Company.

About the Company

The Hash Corporation is a Canadian company positioning itself to focus on the production and sales of cannabis-based hashish and other cannabis products. The Company intends to apply its separation and curing techniques to produce a suite of high-quality cannabis resin products, which are all-natural and free of additives and carcinogenic solvents.

The Company intends to tailor its product offerings to pay tribute to historical traditions, fragrances and tastes, while upholding the highest health and safety standards.

On behalf of the Board of Directors

The Hash Corporation
Chris Savoie
Chief Executive Officer, and Director
T: 1-833-420-7396
E: chris@hashco.ca

Forward-Looking Information and Cautionary Statements

This press release may contain forward-looking statements including, but not limited to, comments regarding the timing of the closing of the Private Placement. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statement

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

Chris Savoie
The Hash Corporation
email us here

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