DrazCanna, Inc. (OTCBB: DZCA) Announces Actions for Entry into Emerging Growth Cannabis Bio-Pharmaceutical Research and Development Supply Chain

Rhea-AI Summary

DrazCanna, Inc. (OTC:DZCA) announces significant shareholder approvals including a Reverse Merger and the election of Hussein Anani to the Board of Directors. BF Borgers CPA PC has been appointed as the auditor for the fiscal year ending June 30, 2022. DrazCanna aims to establish a state-of-the-art hybrid greenhouse in Michigan to enhance its cannabis cultivation efforts. The company focuses on environmental, social, and governance (ESG) principles, emphasizing water and energy efficiency in its operations.

Positive

• Shareholders approved a Reverse Merger, facilitating corporate restructuring.
• Appointment of experienced independent director Jamal Mosallam for governance improvement.
• Engagement of reputable auditor BF Borgers for enhanced financial oversight.
• Plans for a state-of-the-art hybrid greenhouse to boost cannabis production.

Negative

• None.

Cannabis Bio-Pharmaceutical Research and Development company announces shareholder approval of pending Reverse Merger, Selection of Auditors for Fiscal Year End 2022, location for DrazCanna's Detroit Center of Excellence, and Appointment of Independent Director to DrazCanna's Board of Directors.

DEARBORN HEIGHTS, MI / ACCESSWIRE / July 27, 2022 / Cannabis bio-pharmaceutical research and development company, DrazCanna, Inc. (OTC:DZCA) announces results of Shareholder's vote electing Hussein Anani to DrazCanna's Board of Directors, approval of Reverse Merger Share Exchange Agreement, and approval of Bylaws for DrazCanna, Inc.

During the Special Shareholders Meeting, the shareholders voted to approve the updated Bylaws, the Definitive Share Exchange Agreement for the reverse merger, and the election of Hussein Anani to the Board of Directors.

"As part of our commitment to excellence in corporate governance, I would like to introduce our new independent member to DrazCanna's Board of Directors, Jamal Mosallam," said company president, Hussein Anani. "Jamal brings over 20 years of business advisory and financial consulting experience helping organization drive growth and profitability with hands-on operations, sales, IT, finance, and business development expertise." Mr. Mosallam will serve as an independent director and member of the Audit Committee through the next Annual Meeting of Shareholders scheduled for August 2023. Mr. Mosallam added "I am very excited to be part of such a dynamic organization and I look forward to working with Hussein and other members of the board towards the advancement of our company."

Jamal Mosallam

As furtherance of DrazCanna's Corporate Governance objectives, the company is proud to announce the engagement of BF Borgers CPA PC ("BF Borgers") as its auditor for its fiscal year end June 30, 2022. The audit of the financial statements will be conducted in accordance with the standards established by the Public Company Accounting Oversight Board (PCAOB). The Company plans to file for a registration statement in the United States upon completion of the audit to continue its expansion plans to be a leading cannabis cultivation and processing organization.

"The audit represents an important step by the new management group towards establishing a leading cannabis company to our stakeholders. The next steps of upgrading to OTCQB have begun along with the filing of a registration statement for our planned expansion to build a state-of-the-art hybrid greenhouse located in western Michigan," stated Hussein. "We are diligently working through the licensing process for our 1,500 plant cultivation operation at our Center of Excellence for bio-pharmaceutical research and development located in western Detroit. We seek to differentiate ourselves as one of the best cannabis emerging growth investments"

Early 2023 is targeted to beginning for operations as a startup in the high growth cannabis industry through DrazCanna, Inc.'s wholly owned cannabis bio-pharmaceutical research and development subsidiary, Lybull, Inc.

Cannabis Industry Leading Environmental Social and Governance - ESG

DrazCanna's Environmental, Social, and Governance commitment is a multifaceted approach to industry leadership in each component to be the best cannabis emerging growth investment to our stakeholders.

• DrazCanna's cannabis industry leading environmental excellence is based upon it's patent pending Nutrient Optimizing Data-Driven Hydroponic System and Methods for Indoor/Hybrid Greenhouse application as measured by water consumption and kW consumed metrics. This innovation was developed upon cannabis cultivation with application to other flowering and fruiting plants within the food industry.
• DrazCanna's cannabis industry leading social equity excellence is based upon its commitment to employee ownership and hiring practices to benefit the communities in which it operates. As part of DrazCanna's commitment to leadership in social equity, the company partnered in applications testing of a linguistic data analytics program to aid in reducing police related deaths.

"Our goal is to make a difference in the world we live in. We strive to be a responsible corporate citizen. Our environmental goal is to be the ‘Greenest of the Green' in the cannabis industry through the continued evolution of our cultivation and processing operations" stated Ali Anani, Chief Executive Officer of reverse merger partner DrazCanna, Inc (Michigan based). DrazCanna's sights continue to be set on finding and utilizing unique ways in which to leverage the talents of their team members to develop approaches and methods to make a positive impact on the world.

DrazCanna's geographic location based in Michigan provides "cool" summer temperatures with available water sources provided by the country's Great Lakes is a strategic advantage over many regions of the US to capitalize upon the patent pending technology developed.

DrazCanna is committed to continue their journey to be the best environmental, social, governance investment, through our innovative application of data-driven solution to achieve cannabis industry leading Environmental Social and Governance - ESG. The challenge is to innovate tactical solutions to the problems that impact us all with the goal to be the best cannabis emerging growth investment.

Contact:
DrazCanna, Inc.
Hussein Anani, President
P.O. Box 600
Dearborn Heights, MI 48127
www.drazcanna.com
info@drazcanna.com

About DrazCanna, Inc.

DrazCanna, Inc. (OTC: DZCA) formerly known as Sibling Group Holdings, Inc., was operating in the educational sector until 2016 and was dormant until 2021 when the corporation filed its reports to achieve current status. For more information, visit www.drazcanna.com

Safe Harbor

This press release contains forward-looking statements that involve risks and uncertainties concerning the plans and expectations of DrazCanna, Inc. These statements are only predictions and actual events, or results may differ materially from those described in this press release due to a number of risks and uncertainties, some of which are out of the company's control. The potential risks and uncertainties include, among others, that the company's expectations of future growth may not be realized. These forward-looking statements are made only as of the date hereof. The company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. All forward-looking statements are expressly qualified in their entirety by the "Risk Factors" and other cautionary statements included in the company's annual, quarterly and current reports and other filings, including but not limited for the quarter ended March 31, 2022, and filings with the OTC Markets.

SOURCE: DrazCanna, Inc.

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FAQ

What recent approvals did DrazCanna, Inc. (OTC:DZCA) announce?

DrazCanna announced shareholder approvals for a Reverse Merger, updated Bylaws, and election of Hussein Anani to the Board of Directors.

Who was appointed to DrazCanna's Board of Directors?

Hussein Anani was elected to DrazCanna's Board of Directors during the recent shareholder meeting.

What auditing firm will DrazCanna use for fiscal year 2022?

DrazCanna has appointed BF Borgers CPA PC as its auditor for the fiscal year ending June 30, 2022.

What is DrazCanna's plan for cannabis cultivation?

DrazCanna plans to build a state-of-the-art hybrid greenhouse in Michigan to support its cannabis cultivation operations.