Montreal, Quebec--(Newsfile Corp. - October 18, 2023) - Lumiera Health Inc. (TSXV: NHP) (the "Company" or "Lumiera "), a company specializing in the development and commercialization of natural health products, is pleased to announce that the material in connection with the upcoming November 14, 2023 Annual General and Special Shareholder Meeting is being mailed today and available on Sedarplus.ca.
At the Meeting, Shareholders will be asked to i) elect directors; ii) to approve the appointment of the auditor for the Company for the ensuing year; iii) consider a special resolution (the "Consolidation Resolution"), authorizing the Board to amend the articles of the Corporation to proceed with a consolidation (the "Share Consolidation") of all of the issued and outstanding Common Shares on the basis of a consolidation ratio to be selected by the Board within a range between five (5) pre-consolidation Common Share for one (1) post-consolidation Common Share and ten (10) pre-consolidation Common Shares for one (1) post-consolidation Common Share; iv) to approve the previously adopted stock option incentive plan, as required annually by the TSX Venture Exchange; and v) consider any other proper business.
With regards to the "Consolidation Resolution," the Board will have discretion to select any ratio for the Share Consolidation falling within the aforementioned range of ratios upon receipt of Shareholder approval and prior to the filing of articles of amendment to the Corporation's articles, as amended from time to time. The Board believes that the proposed range of Share Consolidation ratios (rather than a single ratio) will provide it with the flexibility to implement the Share Consolidation in a manner designed to maximize the anticipated benefits to the Corporation and because it is not possible to predict market conditions at the time the Share Consolidation would be implemented.
In addition to the recent addition of new board members, the company is continuing to evaluate opportunities to accelerate the current portfolio of products as well as opportunities that are intended to expand the portfolio of products and accelerate growth. The company looks forward to sharing additional details and progress in the near future.
About Lumiera Health
Lumiera specializes in the development and commercialization of consumer products for the natural health industry. The Company sells herbal tonics and natural supplements through its Holizen Laboratories division, with a diverse portfolio including a line of innovative sleep aids. The Company is also commercializing a unique topical product line acting on the endocannabinoid system, without the use of cannabis, that provides an innovative solution for chronic pain and inflammation. A pioneer in the natural health innovation space, the Lumiera brand is rooted in the core values of science, nature and compassion. Our goal is to make people's lives better by developing natural health and wellness products that are effective, safe and trustworthy.
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions indicate such "forward-looking information" as they relate to Lumiera. All statements other than statements of historical fact may be forward-looking information. Such statements reflect Lumiera' current views and intentions with respect to future events, and current information available to Lumiera, and are subject to certain risks, uncertainties and assumptions.
Such risks and uncertainties include, among others, the risk factors included in Lumiera' annual management's discussion and analysis for the year ended November 30, 2022, which is available under the issuer's SEDAR profile at sedarplus.ca. Material factors or assumptions were applied in providing forward-looking information. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. Should any factor affect Lumiera in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, Lumiera does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and Lumiera undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
For further information: Mr. André Rancourt, 514.500.0059, infolumiera@gmail.com CO: Lumiera Health Inc.
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