DENVER–(BUSINESS WIRE)–MJardin Group (“MJardin”), a proven leader in global cannabis management, today announced it has closed the previously announced reverse takeover (“RTO”) of Sumtra Diversified Inc. (“Sumtra”) (TSX-V: SDV.H).
In connection with the RTO, Sumtra has changed its name to “MJardin Group, Inc.” (the “MJardin Group”) and has had its common shares delisted from the TSX Venture Exchange. MJardin Group has received conditional approval from the Canadian Securities Exchange (the “CSE”) and anticipates that its shares will commence trading on the CSE on November 15th under the ticker “MJAR.”
A listing statement describing MJardin, prepared in accordance with the policies of the CSE, is available on the CSE’s website and on SEDAR at www.sedar.com.
About MJardin Group
MJardin Group is a highly specialized global cannabis management platform that develops partnerships with licensed operators. MJardin provides its partners turnkey cannabis cultivation, processing and retail solutions, including licensure support, facility design, systems implementation, facility ramp-up and the day-to-day operational management required in a large-scale, professionally managed cannabis facility. MJardin is headquartered in Denver, Colorado with an additional office in Toronto, Ontario. For more information, please visit www.mjardin.com.
The CSE has not in any way passed upon the merits of the RTO or the listing of the common shares of MJardin Group, and has neither approved nor disapproved the contents of this news release. Listing of the common shares of MJardin Group are subject to satisfaction of the listing requirements of the CSE, including customary deliverables in satisfaction of the conditional approval and the applicable rules and policies of the CSE.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
This news release contains forward-looking information based on current expectations. Statements about, among other things, the completion of the RTO and listing and trading on the CSE are all forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions at the date such statements are made, there can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on the forward-looking information. MJardin assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.