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Calgary cannabis firm to go public, files $1.25m IPO

Asia Cannabis Corp. has filed a preliminary prospectus in connection with a proposed initial public offering (IPO) of 5 million common shares at a price of $0.25 per share for gross proceeds of $1.25m.

The firm has applied to list its common shares on Canada’s local bourse, the Canadian Securities Exchange (CSE).

Emerging Equities Inc. acts as the agent for the offering while Heighington Law and Burnet, Duckworth & Palmer LLP are acting as legal counsel to Asia Cannabis and the agent respectively.

Calgary-based Asia Cannabis is an early-stage international agri-technology company focused on the development, evaluation, testing, application and, ultimately, supply to the market of proprietary organic hybridization technology and certain products derived from that technology.

The firm has secured an exclusive right to use the technology developed by InPlanta Biotechnology Inc. in the cannabis and hemp industries across Asia, including in India, Thailand, Cambodia, Vietnam, Korea, Malaysia, Indonesia, Japan, Singapore, China, Miramar, Laos and the Philippines.

Asia Cannabis is led by Johannes J. Kingma (President & CEO, Director), Vincent E. Ghazar (CFO and Director), David E. T. Pinkman (Director), and Igor Kovalchuk (Director).

Upon closing of the offering, Asia Cannabis will have 36,200,100 shares issued and outstanding or 40,470,100 shares on a fully diluted basis.

This article has been edited. It first appeared on Private Capital Journal, a site managed by CPE Media Inc, the official data provider for PCMA. Read the rest of the article here.

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