CanaFarma Corp. announced in September 2019 that it had reached an agreement to merge with KYC Technology, an independent reporting issuer on the Canadian Securities Exchange (CSE), with the goal of being publicly listed on the CSE.
David Lonsdale, the CEO of CanaFarma Corp. commented, “This represents an important step in the execution of CanaFarma’s strategic plan and will position the company well to continue its rapid growth in the future.”
The company filed a Preliminary Long Form Prospectus on Sedar on December 16th, 2019, and in part said, “ The Resulting Issuer will be directly involved (through its licensed wholly-owned subsidiaries) in the Industrial Hemp, hemp oil, and cannabidiol (“CBD”) marketplace initially in the State of New York and ultimately in other states that have regulated such activity. This Prospectus qualifies the distribution of securities of an entity that is expected to, upon completion of the reverse take-over of the Company, derive its revenues from the production and distribution of hemp-based, CBD wellness products in certain states in the United States. All Industrial Hemp produced and sold by the Resulting Issuer will constitute Industrial Hemp under the 2018 Farm Bill, as well as the laws of the states in which it produces and sells such Industrial Hemp “.
CanaFarma is a full-service company currently operating in the Hemp industry offering a full range of hemp-related products and services. These products and services include growing top-quality hemp, providing hemp-processing services, and offering hemp-based products to consumers utilizing a direct-to-consumer marketing approach.
KYC Technology: KYC Technology Inc was incorporated on June 6, 2017, as a British Columbia Corporation. Following the completion of a Plan of Arrangement between the Company and GreenBank Capital Inc, KYC became an independent reporting issuer in the Provinces of British Columbia and Alberta.
We will be chronicling the path to trading these public shares in 2020 as this CBD wellness product distributor comes to the Canadian Securities Exchange.