Toronto, Ontario – September 11, 2018. Tidal Royalty Corp. (CSE: RLTY.U) (“Tidal Royalty”), a leading provider of royalty financing to licensed U.S. cannabis operators, reports that after the close of trading on September 10, 2018, OTC Markets ceased listing Tidal Royalty’s common shares under the symbol “TDRYF”.
The Company’s predecessor, Elkhorn Gold Mining Corp. (“Elkhorn”), filed a registration statement with the SEC as a foreign private issuer. Elkhorn ceased to file its required periodic filings with the SEC in 1999 and as a result, the SEC issued an order on October 12, 2010 revoking the registered securities of Elkhorn pursuant to Section 12(j) of the Securities Exchange Act of 1934 (the “Exchange Act”).
The Company operated under the name Elkhorn Gold Mining Corp. between February 1999 to October 2011 under a different management and board of directors.
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 CSE under the symbol RLTY.U.
Tidal Royalty is working with the relevant U.S. regulatory authorities to address this matter and is hopeful that, as the deficiencies do not pertain to the present day Company, its common shares will resume trading on the OTC Markets shortly.
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 "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 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: 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.