Solo Growth Completes Change of Business, Name Change and Announces New Ticker “SOLO”
CALGARY, Alberta, Jan. 07, 2019 (GLOBE NEWSWIRE) — Solo Growth Corp.™ (formerly Aldershot Resources Ltd.) (the “Company” or “Solo Growth”) (TSXV: ALZ) is pleased to announce that its common shares (“Common Shares”) will commence trading on the TSX Venture Exchange (“TSXV”) under the name “Solo Growth Corp.™” and the stock symbol “SOLO” at market opening on January 7, 2019 and that the Company has received final approval from the TSXV regarding the previously announced transactions which collectively constituted the Company’s change of business from a mining company to a retail cannabis company (the “Change of Business”).
Solo Growth Highlights
- Three stores completed and awaiting inspection at year end 2018 and four additional stores under construction in Alberta
- Raised approximately $5 million in Rights Offering which closed December 18, 2018
- Received 20 development permits in Alberta with concurrent AGLC applications in place for each location
- Leveraged commercial real estate expertise to build a high-graded portfolio of 25 premier locations in Ontario with termination clauses and/or refundable deposits, ahead of the January 11, 2019 Ontario lottery process
- The Company is well positioned with financial flexibility and a long list of premiere locations in both Alberta and Ontario that will enable us to react quickly once supply issues are resolved
- Strong management and board brings together substantial experience in real estate, controlled substance retail operations, the cannabis industry, finance and public capital markets
Please visit our new website, www.sologrowth.ca, for more information and to sign up to our mailing list.
Change of Name and Stock Symbol
The Company has changed its name from “Aldershot Resources Ltd.” to “Solo Growth Corp.™” and has continued from British Columbia into Alberta. The Common Shares will commence trading on the TSXV as a Tier 2 Life Sciences Issuer under the Company’s new name and new trading symbol “SOLO” at the market opening on January 7, 2019.
Change of Business
On June 28, 2018: (i) the Company completed a non-brokered private placement; (ii) the former management team of the Company and former board resigned and the new management team and new board were appointed; and (iii) the Company entered into an administrative services agreement with Solo Liquor Stores Ltd., one of Canada’s largest private liquor retailers. Pursuant to the policies of the TSXV, these transactions, together with the name change to “Solo Growth Corp.TM”, are deemed to represent a “Change of Business” with respect to the Company. On January 3, 2019, the TSXV granted final approval in respect of the Change of Business. Eight Capital acted as Sponsor to the Company in connection with the Change of Business.
For additional information regarding Solo Growth and the Change of Business, please refer to the Company’s new corporate website at www.sologrowth.ca and the filing statement of Solo Growth dated October 22, 2018 (the “Filing Statement”), which is available under the Company’s profile on SEDAR at www.sedar.com.
About Solo Growth Corp.™
Operating as YSS by Solo™, Solo Growth Corp.™ is a cannabis retailer with the vision to become a premier retailer and the trusted destination for cannabis in Canada. Since launch in June of 2018, Solo Growth has leveraged management’s expertise in commercial real estate to build a strategic portfolio of future locations while managing financial commitments and has completed construction of three stores in Alberta. With over 22 years experience gained through profitably operating the Solo Liquor retail brand, YSS management brings operational excellence in responsible controlled-substance retail to the newly legalized cannabis industry. The YSS by Solo retail experience is built on our five fundamental pillars: convenience, value, selection, team, and above all else, trust.
Investor or Media Contacts:
|Pali Bedi||Stephanie Bunch|
|President, Chief Executive Officer and Director||Vice President, Finance and|
|Phone: (403) 455-7656||Chief Financial Officer|
|Phone: (403) 455-7656|
|Solo Growth Corp.™|
|Suite 1100, 634 – 6th Avenue S.W.|
|Calgary, AB T2P 0S4|
|5 Quarters Investor Relations, Inc.|
|(403) 231-4372 or firstname.lastname@example.org|
Forward-Looking and Cautionary Statements
This news release may include forward-looking statements including opinions, assumptions, estimates, the Company’s assessment of future plans and operations, and, more particularly, statements concerning Solo Growth’s retail cannabis business strategy and the ability to exercise thereon and the trading in the Common Shares under the new name and new symbol. When used in this document, the words “will,” “anticipate,” “believe,” “estimate,” “expect,” “intent,” “may,” “project,” “should,” and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by the Company. Forward-looking statements are subject to a wide range of risks and uncertainties and, although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to: regulatory and third party approvals not being obtained in the manner or timing anticipated; the ability to implement corporate strategies; the state of domestic capital markets; the ability to obtain financing; changes in general market conditions; industry conditions and events; the size of the recreational cannabis market; government regulations, including future legislative and regulatory developments involving recreational cannabis; competition from other industry participants; and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities. Please refer to the Filing Statement for additional risk factors relating to the Company. The Filing Statement can be accessed under the Company’s profile on www.sedar.com.
Except as required by applicable laws, the Company does not undertake any obligation to publicly update or revise any forward-looking statements.
Neither the TSXV nor its regulation services provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.