VANCOUVER, British Columbia, March 20, 2020 — Champignon Brands Inc. (“Champignon” or the “Company”) (SHRM.CN) (496.F) (SHRMF), a health and wellness company specializing in the formulation of a suite of medicinal mushrooms and novel delivery platforms for the pharmaceutical and nutraceutical industries, is pleased to announce it intends to begin a normal course issuer bid (the “NCIB”) to purchase up to an aggregate of 2,411,883 common shares, representing 5 percent of the issued and outstanding common shares as of the date of this release.
The Company is taking this action because it believes that prevailing market conditions have resulted in Champignon’s shares being undervalued relative to the immediate and long-term value of its vertically integrated alternative medicine product range.
Pursuant to the NCIB, the Company may, if considered advisable, purchase the common shares through the facilities of the Canadian Securities Exchange (the “CSE”) and/or alternative trading systems, from time to time over the next 12 months.
Purchases may commence through the CSE and/or alternative trading systems on March 27, 2020, and will conclude on the earlier of the date on which purchases under the bid have been completed or March 27, 2021. All common shares purchased by the Company will be cancelled. Champignon has appointed PI Financial Corp. to co-ordinate and facilitate its NCIB purchases.
About Champignon Brands Inc.
Champignon Brands Inc. (SHRM.CN) is a Canada-based company dedicated to the distribution of artisanal medicinal mushrooms infused products. The Champignon team is mandated with enhancing the health and wellness of millions of potential consumers through the distribution of a premium, mushroom-infused product suite. Champignon continues to be inspired by sustainability, as all of its eligible SKUs are organic, non-GMO and vegan certified. For more information, visit the company’s website at www.ChampignonBrands.com
ON BEHALF OF THE BOARD OF DIRECTORS
W. Gareth Birdsall
CEO & Director
T: +1 (778) 809-6664
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T: (888) 585-MARI
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Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. There are no assurances that the business plans for Champignon Brands described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which are available at www.sedar.com.