Asia Cannabis Corp. has filed a preliminary prospectus in connection with a proposed initial public offering (IPO) of 5 million common shares at a price of $0.25 per share for gross proceeds of $1.25 million.
Emerging Equities Inc. acts as the agent for the offering. Heighington Law and Burnet, Duckworth & Palmer LLP are acting as legal counsel to Asia Cannabis and the agent respectively.
Asia Cannabis has applied to list its common shares on the Canadian Securities Exchange (CSE).
Calgary based Asia Cannabis is an early stage international agri-technology company focused on the development, evaluation, testing, application and, ultimately, supply to the market of proprietary organic hybridization technology and certain products derived from that technology. The company has secured an exclusive right to use the technology developed by InPlanta Biotechnology Inc. in the cannabis and hemp industries in Asia, an area that includes India, Thailand, Cambodia, Vietnam, Korea, Malaysia, Indonesia, Japan, Singapore, China, Miramar, Laos, and the Philippines.
Asia Cannabis is led by Johannes J. Kingma (President & CEO, Director), Vincent E. Ghazar (CFO and Director), David E. T. Pinkman (Director), and Igor Kovalchuk (Director).
Upon closing of the offering, Asia Cannabis will have 36,200,100 shares issued and outstanding or 40,470,100 shares on a fully diluted basis.
photo credit: InPlanta