World Class Extractions Sells Interest in Cobra Subsidiary
VANCOUVER, BC / ACCESSWIRE / January 20, 2021 / World-Class Extractions Inc. (CSE:PUMP)(FRA:WCF)(OTCQB:WCEXF) (the “Company” or “World-Class“), reports that it has sold its 50% interest in Cobra Ventures Inc. (“Cobra“), which sale included all funds previously advanced by World Class to Cobra, to the remaining shareholder of Cobra, for $2,500,000 in cash.
An investment group led by Richard Goldstein retains 100% control of Cobra, and its senior secured debenture of Hydrx Farms Ltd. (“Hydrx”), acquired by Cobra in October 2020.
Rosy Mondin, CEO of World-Class, has also resigned as a director and officer of Hydrx and Leo Chamberland, President of World-Class, has resigned as a director and officer of Cobra. World-Class will have no ongoing role or interest in Cobra or Hydrx.
About World-Class
World-Class is an innovation-driven company with a principal focus on the rapidly evolving cannabis and hemp industries. Through its subsidiaries, World-Class deploys and manages custom-built extraction centres utilizing its custom systems, technology, and processes to efficiently produce high-quality cannabis and hemp concentrates and end-products. In addition, through its subsidiary Pineapple Express Delivery Inc. the Company offers compliant and secure delivery of government regulated products, including medical and recreational cannabis in Ontario, Manitoba and Saskatchewan, and liquor delivery in certain jurisdictions in Saskatchewan.
Investor Contact
World-Class Investor Relations
1-437-266-1968
ir@worldclassextractions.com
Cautionary Note Regarding Forward-Looking Statements
Except for the statements of historical fact contained herein, the information presented in this news release constitutes “forward-looking statements” as such term is used in applicable United States and Canadian laws. These statements involve known and unknown risks, assumptions, uncertainties, and other factors that may cause actual results or events to differ materially. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and should be viewed as “forward-looking statements. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated, or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.
Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: World-Class Extractions Inc.
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