VANCOUVER, British Columbia, March 20, 2020 (GLOBE NEWSWIRE) — Champignon Brands Inc. (“Champignon” or the “Company”) (CSE: SHRM) (FWB: 496) (OTC: 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.
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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. (CSE: SHRM) 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
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