Cannabis Growth Opportunity Corporation (CGOC), a cannabis-focused investment corporation with both public and private cannabis holdings, said it has amended its articles in accordance with the Canada Business Corporations Act and has changed its name to Plant-Based Investment Corp, effective January 15, 2021.
The company’s new stock symbol on the Canadian Securities Exchange will be PBIC, and its common shares are expected to commence trading on the CSE under the new name and symbol at market open on January 20, 2021.
At the annual and special meeting of shareholders held on April 30, 2020, the shareholders of the company authorized CGOC’s board of directors to change the name of the company to such name as the board determined in their sole discretion in connection with a repositioning of CGOC.
In a statement, Paul Crath, chief executive officer, said: “In connection with a repositioning of CGOC’s public and private investment platform and to reflect certain market opportunities identified by management, the board of directors determined to proceed with a name change to Plant-Based Investment Corp to better reflect management’s focus on investments that relate to the broader cannabis plant family, including hemp plants and cannabinoids, including CBD, CBG and CBN, along with other terpenes and flavonoids found in cannabis and other plants.
"Furthermore, there are new opportunities with combinatorial products and their related intellectual property resulting from combining cannabis plant compounds with other functional plant and fungi-based ingredients.”
CGOC said no action will be required by existing shareholders with respect to the name change and certificates representing common shares of the company will not be affected by the name change and will not need to be exchanged.
Plant-Based Investment Corp is an investment corporation that offers unique exposure to the global cannabis sector. The company's main objective is to provide shareholders with long-term total returns through its portfolio of securities, both public and private, operating in, or that derive a portion of their revenue or earnings from products, services and technologies related to the cannabis plant family, its various compounds and other combinatory ingredients and products.
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