Abba Medix Group Inc. (formerly "Saratoga Electronic Solutions") Changes Name and Elects New Directors
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 05/06/15 -- Abba Medix Group Inc. ("Abba" or the "Company") (CSE: ABA) has changed its name from Saratoga Electronic Solutions Inc. and has elected new directors.
Name change to Abba
The Company changed its name from "Saratoga Electronic Solutions Inc." to "Abba Medix Group Inc." following shareholder approval at the Company''s annual and special meeting of shareholders on May 4, 2015 (the "Meeting") and the filing of articles of amendment with Industry Canada to reflect the Company''s evolution into the Canadian medical marijuana industry.
The Company''s stock will continue to trade on the Canadian Securities Exchange (CSE) under the symbol "ABA".
Mr. Ray Rasouli, CEO of Abba stated, "For months we have been operating under the name Abba, but Monday''s shareholder vote was the formal approval necessary to complete our legal name change. Along with the name change, the Company is undertaking an extensive rebranding campaign to introduce and highlight the market-leading perspective Abba is bringing to the medical marijuana business. We will be introducing our well-defined and visible brand through a new website going up in the coming weeks. We believe our new brand will resonate with both the marketplace and our shareholders. It clearly represents what Abba stands for today and our vision for the future."
Election of Abba Board of Directors
At the Meeting, among other items of business, shareholders also elected the following nine (9) individuals as directors of the Company: Ahmad Rasouli, Georges A. Durst, Paul Cancilla, Michael Boucher, Paul Andersen, Dennis Dos Santos, Nick Migliore, Pierre G. Gagnon and Richard Vallee. Biographies of each of these nine individuals are contained in the Company''s management information circular issued in connection with the Meeting which is filed on .
Following the Meeting, the first full meeting of the new board of directors was held. Of these nine directors, Georges Durst remains Chairman of the Board. The Board confirmed the following members to the audit committee; Michael Boucher, Dennis Dos Santos and Pierre G. Gagnon, and to its compensation committee; Paul Cancilla, Paul Andersen and Georges Durst.
About Abba Medix Group Inc.
Abba Medix Group Inc. ("Abba") (CSE: ABA), formerly Saratoga Electronic Solutions Inc., was established in August 2013 to capitalize on the dramatically changing rules governing medical marijuana production in Canada. Abba submitted its initial application under the MMPR licensing program in November of 2013. Abba''s 19,000 sq. ft. Pickering, Ontario growing facility, with an output capacity of 115 kg per month, is complete and ready for Health Canada inspection. It is currently awaiting approval from Health Canada to produce medical cannabis. For more information please visit .
Cautionary Statements Regarding Forward-Looking Information
Certain statements within this press release relating to the Company constitute "forward-looking statements", within the meaning of applicable securities laws, including without limitation, statements regarding future estimates, business plans and / or objectives, sales programs, forecasts and projections, assumptions, expectations, and/or beliefs of future performance, are "forward-looking statements". Such "forward-looking statements" involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements. Forward-looking statements include, but are not limited to, statements with respect to commercial operations, including production and / or sales of medical marijuana, quantities of future medical marijuana production, anticipated revenues in connection with such sales, the overall projected size of the market, completion and / or expansion of production facilities, and other information that is based on forecasts of future results, estimates of production not yet determinable, and other key management assumptions. Actual results may differ materially from those expressed or implied by such forward-looking statements and involve risk and uncertainties relating to the Company''s historical experience with regulatory changes, timeliness of government approvals for the granting of permits and licenses, changes in medical marijuana prices, actual operating performance of facilities, and other uninsured risks. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Further, there can be no assurance that Abba Medix''s medical marijuana license application will be approved by Health Canada, or that any prospective projects in the industry will be successfully completed. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Abba Medix Group Inc.
Ray Ahmad Rasouli
Chief Executive Officer
(905) 492-9420
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Datum: 06.05.2015 - 06:58 Uhr
Sprache: Deutsch
News-ID 1356926
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