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Aura Announces Appointment of New Chief Operating Officer and Board Approval of Stock-Based Compensation Plan
TORONTO, Nov. 19, 2018 (GLOBE NEWSWIRE) -- Aura Health Inc. (the "Company" or “Aura”) (CSE:BUZZ) is pleased to announce the appointment of Howard Brass to the role of Chief Operating Officer, effective immediately. Mr. Brass has nearly a decade of capital markets experience and spent several years leading the restructuring, growth, and sale of Cliplight Manufacturing Company to private equity firm The Jordan Company. Mr. Brass holds an HBA from the Richard Ivey School of Business and is a CFA charterholder.
In addition, the Company would like to announce the board approval of a stock-based compensation plan of 3,000,000 common shares to be issued over three years (the “Compensation Shares”). Daniel Cohen will receive an aggregate of 2,000,000 Compensation Shares and Howard Brass will receive an aggregate of 1,000,000 Compensation Shares. The Compensation Shares are to be granted in equal portions annually over three years, the first issuance being on the anniversary of the commencement of services to the company.
Issuance of the Compensation Shares is subject to approval of the Canadian Securities Exchange and Canadian securities regulations.
About Aura Health Inc.
Aura is building an international network of vertically integrated cannabis assets. The company has LOIs in place to acquire the majority of two Israeli assets: HolyCanna, a cultivation and nursery license holder, and CannabiSendak, the builder of a network of high-profile dispensaries. Aura also owns a 30% interest in four medical marijuana clinics in the U.S. Sun Belt, with an option to increase its interest in three of the clinics to 51%.
For further information, please contact:
Daniel Cohen, CEO
Aura Health Inc.
David Posner, Chairman
Aura Health Inc.
Caution Regarding Forward-Looking Information:
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include submission of the relevant documentation within the required timeframe and to the satisfaction of the relevant regulators, completing the acquisition of the applicable real estate and raising sufficient financing to complete the Company's business strategy. There is no certainty that any of these events will occur. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.
The Company's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulation S under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.
Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.