CannLabs, Inc's 2021 Annual General Meeting Announcement
CannLabs, Inc. (OTC Pink: CANL) held its Annual General Shareholders Meeting on November 19, 2021, in Houston, Texas. The company announced plans to meet SEC reporting requirements and undergo an audit by a PCAOB-registered firm. CEO Michael Singleton expressed intentions to transition towards a technology-focused model, integrating blockchain and software into its cannabis operations. The company aims to leverage public markets for growth capital and plans to launch a blockchain-based Metaverse following a capital raise.
- Announcement of compliance with SEC reporting requirements.
- Transition to a technology-driven business model, integrating blockchain.
- Plans to leverage public markets for growth capital.
- Introduction of a blockchain-based Metaverse after capital raise.
- No assurances on meeting expectations for public listing on a major exchange.
HOUSTON, Dec. 7, 2021 /PRNewswire/ -- Publicly Traded company CannLabs, Inc. (OTC Pink: CANL) announced today that it conducted its Annual General Shareholders Meeting on the 19th of November 2021 at its Houston Texas Headquarters.
During the Annual Meeting the company announced that it is currently taking actions to bring the company current by meeting all its SEC reporting requirements in anticipation of having its financial statements audited by a PCAOB-registered certified public accounting firm. Management of CannLabs, Inc has worked diligently and successfully to bring the company up to date in becoming current with its filings on the OTCMKTS.
Michael Singleton, Chief Executive Officer of CannLabs, Inc said, we want to generate stronger sustainable growth and create values that make an economic impact across several market sectors. Our new direction is to become more of a technology-based company, this will enable us to embark upon an ambitious growth path for the next 10 years. We will transition our Cannabis division operations into becoming more cryptography and software app driven. The new cannabis tech division will operate as a blockchain platform inventory subscription-based service provider for other businesses in the Cannabis space. Company President Kelvin McGowan also added, "our objective is to leverage the public markets to obtain the growth capital necessary to meet our strategic objectives. The company will soon deploy a cross chain blockchain based Metaverse after the company meets its capital raise goals. The future looks bright for Cannlabs, Inc.
Statements in this press release that are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although CannLabs, Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, CannLabs Inc is unable to give any assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include the company's ability meet the conditions necessary to, among other matters, obtain a public listing on a major national exchange.
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SOURCE Cann Labs, Inc
FAQ
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