Toronto, Ontario – September 20, 2018. Tidal Royalty Corp. (CSE: RLTY.U) (“Tidal Royalty”), a leading provider of royalty financing to licensed U.S. cannabis operators, reports that it will be seeking to reinstate its listing on the OTC Markets by way of filing a registration statement with the Securities and Exchange Commission (the “SEC”), the U.S. securities regulatory authority.
Further to Tidal Royalty’s press release dated September 11, 2018, the OTC Markets ceased listing Tidal Royalty’s common shares under the symbol “TDRYF” as a result of an October 12, 2010 order issued by the SEC revoking the registration of the common shares of a predecessor company to Tidal Royalty, Elkhorn Gold Mining Corp., for filing deficiencies pursuant to Section 12(j) of the Securities Exchange Act of 1934. As a result, broker-dealers in the United States are currently unable to effect transactions in the United States markets under the trading symbol TDRYF. Tidal Royalty’s common shares continue to trade publicly on the Canadian Securities Exchange (“CSE”) under the symbol RLTY.U.
“We are committed to rectifying the filing delinquencies of the predecessor company and to reinstate our listing on the OTC Markets,” said Paul Rosen, CEO & Chairman of Tidal Royalty. “In the meantime, our stock continues to trade on the CSE.”
Tidal Royalty is working to prepare a registration statement on Form 20-F that it expects will rectify the historical filing deficiencies of the predecessor entity and permit FINRA (the Financial Industry Regulatory Authority that regulates the OTC Markets) to reinstate Tidal Royalty’s eligibility for quotation on the OTC Markets. Tidal Royalty is hopeful its common shares will resume trading on the OTC Markets before the end of the year.
Shareholders seeking to trade their shares of Tidal Royalty may do so over the CSE. The CSE publishes a directory of dealers who have access to the trading facilities of the CSE on their website, which is available at https://thecse.com/en/trading/dealer-directory.
About Tidal Royalty
Tidal Royalty provides royalty financing to the U.S. regulated cannabis industry. Led by an executive team with extensive industry experience in Canada and the U.S., Tidal Royalty provides operators with the funding they need to grow their business. Operators benefit from non‐dilutive capital and investors get top‐line access to a diversified portfolio of companies that will form the future of this transformative industry.
For further information, please contact:
Tidal Royalty Corp.
Terry Taouss, President
This news release contains certain "forward‐looking information" within the meaning of applicable Canadian securities law. Forward‐looking information is frequently characterized by words such as “hope”, "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or information that certain events or conditions "may" or "will" occur. Readers are cautioned that forward‐looking information contained in this new release is not based on historical facts but instead is based on reasonable assumptions and estimates of management. Forward-looking information contained in this news release includes, but is not limited to: the restoration of trading of Tidal Royalty’s common shares on OTC Markets, the timing for the restoration of trading of Tidal Royalty’s common shares on OTC Markets, the causes underlying OTC Markets no longer listing Tidal Royalty’s common shares under the symbol “TDRYF” and the ability of Tidal Royalty to generate revenue or realize profit through royalty agreements or equity investments with any future investee companies. Forward-looking information contained herein is based on the opinions and reasonable assumptions and estimates of management as at the date hereof and is subject to a variety of known and unknown risks and uncertainties and other factors, many of which are beyond the control of Tidal Royalty, that could cause actual events or results of Tidal Royalty to differ materially from those expressed or implied in the forward-looking information. Such factors include: the nature and extent of the review and comment by the SEC of Tidal Royalty’s registration statement, speed of the interactions between the applicable U.S. regulatory authorities, U.S. regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change, risks relating to anti‐money laundering laws and regulation, other governmental and environmental regulation, public opinion and perception of the cannabis industry, risks related to the enforceability of contracts, the requirement by Tidal Royalty to obtain additional financing, the limited operating history of Tidal Royalty, timeliness of government approvals for granting of permits and licences needed by any future investee companies, including licences to cultivate cannabis, the actual operating and financial performance of any future investee company, competition and other risks affecting Tidal Royalty in particular and the U.S. cannabis industry generally, and the risk factors effecting Tidal Royalty disclosed in the listing statement of Tidal Royalty available at www.sedar.com. Because of such risks, uncertainties and other factors, investors should not place undue reliance on the forward‐looking information contained herein. Tidal Royalty is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward‐looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. The foregoing statements expressly qualify the forward‐looking information contained herein. This release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.