Experion Reports on AGM Results

Rhea-AI Summary

Experion Holdings Ltd. held its annual general and special meeting on May 26, 2021, where all proposed matters were approved by shareholders. Key outcomes included the election of six directors, the appointment of Baker Tilly WM LLP as auditors, and approval of the stock option plan. The company will also change its name to Citizen Stash Cannabis Corp. CEO Jarrett Malnarich highlighted the importance of a strong board for strategic growth. Furthermore, 1,312,500 Restricted Share Units were granted to directors and an officer, indicating a focus on incentivizing leadership.

Positive

• All shareholder proposals were approved, indicating strong support for management decisions.
• The appointment of Baker Tilly WM LLP as auditors could enhance financial oversight.
• The name change to Citizen Stash Cannabis Corp. positions the company strategically within the cannabis market.
• 1,312,500 Restricted Share Units granted to directors align their interests with company performance.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / May 31, 2021 / Experion Holdings Ltd. (the "Company" or "Experion") (TSXV:EXP)(OTCQB:EXPFF)(FRANKFURT:MB31) is pleased to announce the results of its annual general and special meeting of the shareholders held by way of live virtual webcast on May 26, 2021 (the "Meeting").

All of the matters put forward before shareholders for consideration and approval as set out in Experion's notice of meeting were approved by the shareholders including:

1. Fixing the number of directors of the Company at six (6)
2. The election of directors - 01. Michael Black 02. Jarrett Malnarich 03. Deni Echino 04. Sean MacNeil 05. William Dickie 06. Byron Dudley
3. Appoint Baker Tilly WM LLP, Charted Professional Accountants as the auditors of the Company for the ensuing year.
4. Approval of the Corporation's stock option plan
5. Approval of certain amendments to the Company's restricted share unit plan; and
6. Change the name of the Company to "Citizen Stash Cannabis Corp."

Each of the directors elected at the meeting being, Michael Black, Jarrett Malnarich, Deni Echino, Sean MacNeil, William Dickie and Byron Dudley will hold office until the next annual meeting of the Company or until the earlier of resignation or removal.

CEO Jarrett Malnarich commented, "We are pleased to have our board elected with high acceptance of our voting shareholders as well as all our resolutions including our name change. Having a strong Board is fundamental as we move forward with our strategy and to grow Experion's valuation in the marketplace. The focused mandate to continue our growth, promote our story and execute on our strategy gives Experion a strong foundation to continue the building of the premium brand Citizen Stash making it a leading and progressive cannabis company."

In addition, the Company granted 1,312,500 Restricted Share Units ("RSUs") to its directors and an officer, of which 500,000 RSUs will vest on May 31, 2022, 250,000 vesting August 31, 2022, 250,000 vesting November 30 2022 and the remaining 312,000 RSUs will vest 12 months after the directors resign.

About Experion Holdings Ltd.

Experion Holdings Ltd. is the parent company of Experion Biotechnologies Inc., a Health Canada licensed cultivator and processor of Cannabis, based in Mission, BC.

Experion Holdings Ltd. is invested in a portfolio of premium cannabis brands and products and is best known for its' rapidly growing adult-use premium brand Citizen Stash. The company's growth strategy incorporates a highly scalable aggregation and distribution business model to drive revenues across its national sales network.

Experion trades on the TSX Venture Exchange as a Tier 1 issuer under the symbol "EXP" on the OTCQB Venture under the symbol "EXPFF" and on the Frankfurt Stock Exchange under the symbol "MB31".

For further information, please visit the Company's website www.experionwellness.com or contact Investor Relations, Email: IR@experionwellness.com.

Disclosure

This news release contains "forward-looking statements" and "forward-looking information" (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of material factors, assumptions, risks and uncertainties, many of which are beyond the control of the Company.

Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "continues", "future", "forecasts", "potential", "outlook" and similar expressions, or are events or conditions that "will", "would", "may", "likely", "could", "should", "can", "typically", "traditionally" or "tends to" occur or be achieved. This news release contains forward-looking statements, pertaining to, among other things, the following: The Company's capital spending forecast and expectations of how it will be funded, including the benefits thereof; the use of proceeds of the Loan; the timing of repayment of the Loan, including interest thereon; near-term impacts from the COVID-19 pandemic; the Company's capital management strategy and financial position; the impact of governmental and Company measures implemented in response to the COVID-19 pandemic; the Company's outlook, activity levels, supply chains and sales channels; loss of markets; further legislative and regulatory developments involving cannabis or otherwise affecting the Company's business or its consumers generally, including delays in the issuance of licenses; competition; currency and interest rate fluctuations; and marketing costs.

Although the Company believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements are made, undue reliance should not be placed on the forward-looking statements because the Company can give no assurances that such statements and information will prove to be correct and such statements are not guarantees of future performance. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties.

Actual performance and results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to: known and unknown risks, including those set forth in the Filing Statement dated September 25, 2017 and/or the most recent annual and interim Management's Discussion and Analysis (the "MD&A") (copies of which can be found under Experion's profile on SEDAR at www.sedar.com); a significant expansion of COVID-19 pandemic and the impacts thereof; the Company's ability to raise the necessary capital or to be fully able to implement its business strategy; integration of acquisitions, competition, and uncertainties resulting from potential delays or changes in plans with respect to acquisitions, development projects or capital expenditures and changes in legislation; stock market volatility and the inability to access sufficient capital from external and internal sources; general economic, market or business conditions including those in the event of an epidemic, natural disaster or other event; global economic events; changes to the Company's financial position and cash flow; the availability of qualified personnel, management or other key inputs; currency exchange fluctuations; changes in political and security stability; potential industry developments; and other unforeseen conditions which could impact the Company. Accordingly, readers should not place undue importance or reliance on the forward-looking statements. Readers are cautioned that the foregoing list of factors is not exhaustive and should refer to "Risk Factors" set out in the MD&A.

Statements, including forward-looking statements, contained in this news release are made as of the date they are given and the Company disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Experion Holdings Ltd.

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FAQ

What were the results of Experion Holdings Ltd.'s AGM on May 26, 2021?

Experion Holdings Ltd. reported that all shareholder proposals were approved at the AGM held on May 26, 2021.

Who were elected as directors during the Experion AGM?

The elected directors at the Experion AGM include Michael Black, Jarrett Malnarich, Deni Echino, Sean MacNeil, William Dickie, and Byron Dudley.

What significant changes occurred at Experion Holdings Ltd. during the AGM?

Experion Holdings Ltd. approved a name change to Citizen Stash Cannabis Corp. and appointed new auditors, Baker Tilly WM LLP.

How many Restricted Share Units were granted at the Experion AGM?

A total of 1,312,500 Restricted Share Units were granted to directors and an officer following the AGM.

What is the significance of the name change to Citizen Stash Cannabis Corp. for EXPFF?

The name change to Citizen Stash Cannabis Corp. aims to enhance brand positioning within the rapidly growing cannabis market.